Service Properties Trust (NASDAQ:SVC) Shares Gap Down to $5.93

Service Properties Trust (NASDAQ:SVC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $5.93, but opened at $5.78. Service Properties Trust shares last traded at $5.59, with a volume of 91,988 shares changing hands.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price target on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Service Properties Trust Trading Down 4.0 %

The company’s 50 day simple moving average is $5.30 and its 200-day simple moving average is $6.38. The firm has a market cap of $918.31 million, a P/E ratio of -6.60 and a beta of 2.21. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 3.58.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 14.44%. The ex-dividend date is Monday, July 22nd. Service Properties Trust’s dividend payout ratio is currently -95.24%.

Institutional Trading of Service Properties Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in shares of Service Properties Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 33,275 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 2,287 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Service Properties Trust by 6.9% during the fourth quarter. Handelsbanken Fonder AB now owns 35,400 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 2,300 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Service Properties Trust by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock worth $984,000 after purchasing an additional 2,476 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Service Properties Trust by 1.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock worth $1,609,000 after purchasing an additional 2,900 shares during the period. Finally, SG Americas Securities LLC raised its position in Service Properties Trust by 4.0% during the 4th quarter. SG Americas Securities LLC now owns 80,678 shares of the real estate investment trust’s stock valued at $689,000 after purchasing an additional 3,083 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

About Service Properties Trust

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.