Service Properties Trust (NASDAQ:SVC) Issues Earnings Results

Key Points

• Service Properties Trust reported $0.35 earnings per share for the quarter, exceeding analysts' expectations of $0.34.
• The company recently declared a quarterly dividend of $0.01, with a dividend yield of 1.4%.
• Institutional investors own 77.62% of the company's stock, with significant increases in holdings from firms like Goldman Sachs and AQR Capital Management.

Service Properties Trust (NASDAQ:SVC - Get Free Report) issued its earnings results on Tuesday. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01, Zacks reports. Service Properties Trust had a negative net margin of 16.54% and a negative return on equity of 35.59%.

Service Properties Trust Stock Performance

Shares of NASDAQ SVC traded up $0.13 during midday trading on Tuesday, hitting $2.76. The company's stock had a trading volume of 1,116,591 shares, compared to its average volume of 1,791,454. The stock has a fifty day moving average price of $2.56 and a 200 day moving average price of $2.46. Service Properties Trust has a one year low of $1.71 and a one year high of $5.31. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 5.48. The firm has a market capitalization of $459.93 million, a price-to-earnings ratio of -1.46 and a beta of 1.91.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.4%. Service Properties Trust's payout ratio is -2.12%.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price target for the company.

Institutional Trading of Service Properties Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Service Properties Trust by 114.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,118,530 shares of the real estate investment trust's stock worth $10,749,000 after buying an additional 2,200,754 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Service Properties Trust by 30.8% in the 1st quarter. AQR Capital Management LLC now owns 1,346,098 shares of the real estate investment trust's stock worth $3,446,000 after buying an additional 317,218 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Service Properties Trust in the 1st quarter worth $77,000. Institutional investors own 77.62% of the company's stock.

Service Properties Trust Company Profile

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.

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