Service Properties Trust (NASDAQ:SVC) Shares Up 12.1% Following Dividend Announcement

Service Properties Trust (NASDAQ:SVC - Get Free Report) shares rose 12.1% on Tuesday after the company announced a dividend. The company traded as high as $3.02 and last traded at $3.01. Approximately 1,484,615 shares changed hands during trading, a decline of 30% from the average daily volume of 2,122,263 shares. The stock had previously closed at $2.68.

The newly announced dividend which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, July 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.32%. Service Properties Trust's dividend payout ratio (DPR) is presently -2.12%.

Analyst Upgrades and Downgrades

Separately, B. Riley initiated coverage on shares of Service Properties Trust in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price target on the stock.

Service Properties Trust Stock Performance

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 $504.91 million, a price-to-earnings ratio of -1.60 and a beta of 1.86. The stock's 50 day moving average price is $2.47 and its two-hundred day moving average price is $2.45.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Service Properties Trust had a negative net margin of 16.54% and a negative return on equity of 35.59%. The business had revenue of $435.18 million for the quarter, compared to analyst estimates of $433.21 million.

Institutional Investors Weigh In On Service Properties Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 4,942 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Service Properties Trust by 2.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 261,809 shares of the real estate investment trust's stock valued at $626,000 after purchasing an additional 5,457 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Service Properties Trust by 40.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,121 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 6,659 shares in the last quarter. Sei Investments Co. lifted its holdings in Service Properties Trust by 12.7% in the 4th quarter. Sei Investments Co. now owns 72,589 shares of the real estate investment trust's stock valued at $185,000 after purchasing an additional 8,157 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in Service Properties Trust by 13.7% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 72,673 shares of the real estate investment trust's stock valued at $191,000 after purchasing an additional 8,729 shares in the last quarter. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

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.