Service Properties Trust (NASDAQ:SVC) Sees Strong Trading Volume - Here's What Happened

Key Points

• Service Properties Trust shares fell 14% to $6.585, while mid-day trading volume reached approximately 1.4 million shares, down 13% from the prior session.
• Analyst sentiment is mixed, with three Buy, two Hold, and one Sell rating; the consensus rating is Hold with an average price target of $12.05.
• The company declared a quarterly dividend of $0.05 per share, equivalent to a 3.3% annualized yield, while institutional investors own 77.62% of the stock.

Shares of Service Properties Trust (NASDAQ:SVC - Get Free Report) saw strong trading volume on Monday. Approximately 1,402,336 shares traded hands during mid-day trading, a decline of 13% from the previous session's volume of 1,614,467 shares. The stock last traded at $6.5850 and had previously closed at $7.15.

Wall Street Analyst Weigh In

SVC has been the topic of a number of analyst reports. LADENBURG THALM/SH SH began coverage on shares of Service Properties Trust in a report on Tuesday, June 30th. They issued a "buy" rating and a $11.25 target price on the stock. B. Riley Financial upped their price objective on shares of Service Properties Trust from $10.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Weiss Ratings lowered Service Properties Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday. Loop Capital set a $9.00 price target on shares of Service Properties Trust in a report on Friday, October 2nd. Finally, Zacks Research upgraded Service Properties Trust from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.05.

Service Properties Trust Stock Down 14.0%

The stock's 50 day moving average price is $7.31 and its 200-day moving average price is $7.81. The company has a market cap of $796.22 million, a PE ratio of -0.80 and a beta of 1.72. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.01 and a current ratio of 0.01.

Service Properties Trust Announces Dividend

The firm 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 dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 19th. This represents a $0.20 annualized dividend and a dividend yield of 3.3%. Service Properties Trust's payout ratio is -2.60%.

Hedge Funds Weigh In On Service Properties Trust

A number of institutional investors have recently bought and sold shares of SVC. Bank of New York Mellon Corp bought a new position in Service Properties Trust in the second quarter worth $3,691,000. Yorkville Advisors Global LP bought a new position in shares of Service Properties Trust in the first quarter worth approximately $28,333,000. Headlands Technologies LLC bought a new stake in shares of Service Properties Trust in the 2nd quarter worth $543,000. Public Employees Retirement System of Ohio bought a new stake in shares of Service Properties Trust in the 2nd quarter worth $1,153,000. Finally, Arizona State Retirement System purchased a new position in shares of Service Properties Trust in the second quarter worth $279,000. 77.62% of the stock is owned by institutional investors.

Service Properties Trust Company Profile

Service Properties Trust NASDAQ: SVC is a real estate investment trust that owns and invests in hotels and service-oriented commercial properties. The company generally leases its properties to operating companies under long-term agreements, generating rental income from a diversified portfolio.

Service Properties Trust's hotel portfolio includes properties operated under well-known brands and independent names, while its service-focused properties serve businesses such as travel centers, healthcare providers and other essential-service operators.

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