Short Interest in Service Properties Trust (NASDAQ:SVC) Declines By 25.4%

Service Properties Trust (NASDAQ:SVC) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 5,300,000 shares, a decrease of 25.4% from the February 28th total of 7,100,000 shares. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $2.50 to $4.00 in a research report on Wednesday, March 19th.

Service Properties Trust Trading Down 0.6 %

Shares of SVC stock traded down $0.02 during trading hours on Monday, hitting $2.62. 176,598 shares of the company were exchanged, compared to its average volume of 1,941,473. The firm has a fifty day moving average of $2.73 and a 200 day moving average of $3.13. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 1 year low of $2.29 and a 1 year high of $6.85. The firm has a market cap of $435.76 million, a PE ratio of -1.78 and a beta of 2.21.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.40%.

Institutional Investors Weigh In On Service Properties Trust

A number of institutional investors have recently added to or reduced their stakes in SVC. Intech Investment Management LLC lifted its position in Service Properties Trust by 17.3% during the third quarter. Intech Investment Management LLC now owns 67,969 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Service Properties Trust by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock worth $28,705,000 after buying an additional 616,718 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Service Properties Trust by 395.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock valued at $4,735,000 after purchasing an additional 828,765 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Service Properties Trust during the third quarter worth about $58,000. Finally, HighTower Advisors LLC boosted its holdings in Service Properties Trust by 27.0% in the third quarter. HighTower Advisors LLC now owns 74,758 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 15,914 shares during 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.