B. Riley Trims Service Properties Trust (NASDAQ:SVC) Target Price to $9.00

Service Properties Trust (NASDAQ:SVC - Free Report) had its price objective lowered by B. Riley from $10.00 to $9.00 in a research report sent to investors on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the real estate investment trust's stock.

Separately, Wells Fargo & Company lowered their price target on shares of Service Properties Trust from $7.50 to $5.75 and set an underweight rating for the company in a research report on Thursday, March 21st.

Service Properties Trust Trading Up 0.3 %

NASDAQ:SVC traded up $0.02 during midday trading on Monday, hitting $5.75. The stock had a trading volume of 766,912 shares, compared to its average volume of 969,034. The stock has a 50-day moving average of $6.39 and a 200 day moving average of $7.26. The company has a market capitalization of $953.12 million, a price-to-earnings ratio of -6.82 and a beta of 2.17. Service Properties Trust has a one year low of $5.43 and a one year high of $9.39. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 3.58.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be paid a $0.20 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.80 annualized dividend and a yield of 13.91%. Service Properties Trust's dividend payout ratio (DPR) is presently -95.24%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Management Corp VA grew its holdings in shares of Service Properties Trust by 14.8% during the fourth quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust's stock valued at $27,698,000 after buying an additional 417,225 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Service Properties Trust during the 3rd quarter worth about $776,000. Graham Capital Management L.P. lifted its position in Service Properties Trust by 188.2% during the 3rd quarter. Graham Capital Management L.P. now owns 55,159 shares of the real estate investment trust's stock worth $424,000 after acquiring an additional 36,022 shares during the period. Public Employees Retirement System of Ohio grew its stake in Service Properties Trust by 8.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 237,412 shares of the real estate investment trust's stock valued at $1,826,000 after purchasing an additional 17,624 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Service Properties Trust by 108.0% in the third quarter. AQR Capital Management LLC now owns 635,044 shares of the real estate investment trust's stock valued at $4,883,000 after purchasing an additional 329,690 shares during the period. 77.62% of the stock is owned by institutional investors and hedge funds.

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.