Balyasny Asset Management L.P. Makes New $6.90 Million Investment in Service Properties Trust (NASDAQ:SVC)

Balyasny Asset Management L.P. purchased a new position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,716,625 shares of the real estate investment trust's stock, valued at approximately $6,900,000. Balyasny Asset Management L.P. owned about 1.63% of Service Properties Trust at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its position in shares of Service Properties Trust by 87.1% in the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after buying an additional 4,942 shares in the last quarter. Cibc World Markets Corp bought a new position in Service Properties Trust in the fourth quarter worth approximately $39,000. Corient Private Wealth LLC bought a new stake in Service Properties Trust during the 4th quarter valued at $41,000. Boothbay Fund Management LLC bought a new stake in Service Properties Trust during the 4th quarter valued at $48,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Service Properties Trust during the 4th quarter valued at $49,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Stock Up 1.2%

NASDAQ:SVC traded up $0.03 during trading hours on Thursday, hitting $2.22. The company's stock had a trading volume of 427,489 shares, compared to its average volume of 2,072,841. The stock has a fifty day moving average of $2.20 and a 200-day moving average of $2.56. The stock has a market capitalization of $369.27 million, a P/E ratio of -1.51 and a beta of 1.77. Service Properties Trust has a 52-week low of $1.71 and a 52-week high of $6.34. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $435.18 million during the quarter, compared to the consensus estimate of $433.21 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%.

Service Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, April 22nd. Service Properties Trust's dividend payout ratio is presently -2.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on SVC. B. Riley began coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price objective for the company. Wells Fargo & Company upgraded Service Properties Trust from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $2.50 to $4.00 in a research note on Wednesday, March 19th.

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.