Service Properties Trust (NASDAQ:SVC) Stock Price Up 12.1% After Dividend Announcement

Service Properties Trust (NASDAQ:SVC - Get Free Report) was up 12.1% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $3.02 and last traded at $3.01. Approximately 1,484,615 shares traded 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. Investors of record on Monday, July 21st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, July 21st. Service Properties Trust's dividend payout ratio (DPR) is presently -2.12%.

Wall Street Analysts Forecast Growth

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

Service Properties Trust Price Performance

The stock has a market cap of $481.59 million, a price-to-earnings ratio of -1.53 and a beta of 1.86. The company has a 50-day moving average of $2.46 and a 200-day moving average of $2.45. The company has a debt-to-equity ratio of 5.48, a quick ratio of 0.04 and a current ratio of 0.04.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Service Properties Trust had a negative return on equity of 35.59% and a negative net margin of 16.54%. The firm had revenue of $435.18 million for the quarter, compared to analysts' expectations of $433.21 million.

Institutional Investors Weigh In On Service Properties Trust

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted 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. Family Wealth Partners LLC purchased a new stake in Service Properties Trust in the 1st quarter valued at approximately $29,000. Principal Financial Group Inc. purchased a new stake in Service Properties Trust in the 1st quarter valued at approximately $29,000. Signaturefd LLC boosted its holdings in Service Properties Trust by 3,016.3% in the 1st quarter. Signaturefd LLC now owns 11,873 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 11,492 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Service Properties Trust in the 4th quarter valued at approximately $33,000. Hedge funds and other 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.