Service Properties Trust (NASDAQ:SVC) Shares Up 14.1% – Still a Buy?

Service Properties Trust (NASDAQ:SVC)’s stock price was up 14.1% on Thursday . The stock 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 target price on Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a report on Tuesday, February 18th.

Service Properties Trust Stock Up 9.0 %

The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a 50-day moving average of $2.64 and a 200 day moving average of $3.41. The company has a market capitalization of $483.28 million, a PE ratio of -1.97 and a beta of 2.19.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.72%.

Institutional Investors Weigh In On Service Properties Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its holdings in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 4,942 shares during the last quarter. Wolverine Trading LLC bought a new stake in shares of Service Properties Trust in the 3rd quarter valued at about $58,000. Walleye Capital LLC acquired a new stake in shares of Service Properties Trust during the third quarter worth $58,000. Tidal Investments LLC acquired a new stake in Service Properties Trust during the 4th quarter worth about $33,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Service Properties Trust in the fourth quarter valued at approximately $39,000. 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.