Service Properties Trust (NASDAQ:SVC) Shares Bought by CastleKnight Management LP

CastleKnight Management LP grew its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 49.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,149,772 shares of the real estate investment trust's stock after purchasing an additional 715,200 shares during the period. CastleKnight Management LP owned approximately 1.29% of Service Properties Trust worth $5,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in shares of 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 in the last quarter. Cibc World Markets Corp bought a new position in Service Properties Trust in the fourth quarter valued at about $39,000. Corient Private Wealth LLC acquired a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $41,000. Boothbay Fund Management LLC bought a new stake in Service Properties Trust in the 4th quarter valued at $48,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Service Properties Trust in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 77.62% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SVC shares. Wells Fargo & Company upgraded Service Properties Trust from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th. B. Riley started coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price objective for the company.

Service Properties Trust Stock Up 1.5 %

NASDAQ:SVC traded up $0.03 during trading hours on Friday, reaching $2.01. 2,286,874 shares of the company traded hands, compared to its average volume of 2,126,012. 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 business's 50-day moving average price is $2.24 and its two-hundred day moving average price is $2.58. Service Properties Trust has a 1 year low of $1.71 and a 1 year high of $6.34. The stock has a market capitalization of $334.94 million, a P/E ratio of -1.37 and a beta of 1.77.

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

Service Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Service Properties Trust's dividend payout ratio is -2.12%.

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.