Service Properties Trust (NASDAQ:SVC) Issues Earnings Results, Misses Expectations By $0.39 EPS

Key Points

• Service Properties Trust reported a quarterly loss of $0.68 per share, missing analyst expectations by $0.39; revenue of $399.52 million exceeded the $318.62 million consensus.
• Shares rose 1.1% to $6.28 on Wednesday. The company also declared a quarterly dividend of $0.05 per share, equivalent to a 3.2% annualized yield.
• Analysts’ consensus rating is Hold, with a consensus price target of $12.05.

Service Properties Trust (NASDAQ:SVC - Get Free Report) announced its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.39), FiscalAI reports. The business had revenue of $399.52 million during the quarter, compared to analysts' expectations of $318.62 million. Service Properties Trust had a negative return on equity of 65.18% and a negative net margin of 25.44%.

Service Properties Trust Stock Up 1.1%

Shares of NASDAQ:SVC traded up $0.07 on Wednesday, hitting $6.28. 2,148,592 shares of the company traded hands, compared to its average volume of 1,645,265. Service Properties Trust has a 52 week low of $5.65 and a 52 week high of $12.15. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 2.11. The stock has a 50 day simple moving average of $6.66 and a 200-day simple moving average of $8.32. The company has a market cap of $813.32 million, a PE ratio of -0.82 and a beta of 1.78.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Stockholders of record on Monday, October 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust's dividend payout ratio is currently -2.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Service Properties Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, October 8th. Loop Capital set a $9.00 price target on Service Properties Trust in a research note on Friday, October 2nd. Finally, Zacks Research raised shares of Service Properties Trust from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.05.

Service Properties Trust Company Profile

Service Properties Trust NASDAQ: SVC is a real estate investment trust that owns and invests in hospitality and service-oriented properties. The company's portfolio has historically included hotels, extended-stay lodging properties and other real estate leased to businesses that provide essential or consumer-focused services.

Service Properties Trust generally leases its properties to hotel operators and other commercial tenants rather than managing most locations directly. Its hotel portfolio has included properties operated under a variety of well-known brands, while its service-focused properties have supported businesses such as healthcare, automotive and travel-related services.

The company's properties are primarily located in the United States, with investments also having included select locations in Canada and Puerto Rico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.