Service Properties Trust (NASDAQ:SVC) Trading 14.1% Higher – What’s Next?

Service Properties Trust (NASDAQ:SVC)’s share price was up 14.1% on Thursday . The company traded as high as $3.03 and last traded at $3.04. Approximately 1,926,537 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 1,596,819 shares. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their price target on Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th.

Service Properties Trust Trading Up 2.8 %

The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $3.40. The company has a market cap of $496.61 million, a price-to-earnings ratio of -2.03 and a beta of 2.19.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were given a $0.01 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.04 annualized dividend and a yield of 1.34%. Service Properties Trust’s dividend payout ratio is presently -2.40%.

Institutional Investors Weigh In On Service Properties Trust

Several hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in Service Properties Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 3,112 shares in the last quarter. abrdn plc boosted its position in Service Properties Trust by 10.5% in the 3rd quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 3,236 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Service Properties Trust by 1.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 3,594 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,942 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in Service Properties Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 5,056 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Company Profile

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2023, SVC owned 221 hotels with over 37,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.