Short Interest in Service Properties Trust (NASDAQ:SVC) Decreases By 23.4%

Service Properties Trust (NASDAQ:SVC - Get Free Report) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 3,830,000 shares, adropof23.4% from the July 31st total of 5,000,000 shares. Approximately2.5% of the company's shares are short sold. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately2.5% of the company's shares are short sold.

Service Properties Trust Stock Performance

Shares of NASDAQ:SVC opened at $2.88 on Monday. The company has a market capitalization of $480.56 million, a price-to-earnings ratio of -1.72 and a beta of 1.86. The firm's 50 day simple moving average is $2.67 and its 200 day simple moving average is $2.44. The company has a debt-to-equity ratio of 5.79, a current ratio of 0.04 and a quick ratio of 0.04. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $5.00.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $503.44 million for the quarter, compared to the consensus estimate of $497.53 million. Service Properties Trust had a negative net margin of 14.73% and a negative return on equity of 34.61%.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, July 21st. Service Properties Trust's dividend payout ratio (DPR) is -2.40%.

Institutional Trading of Service Properties Trust

Several hedge funds have recently bought and sold shares of SVC. Goldman Sachs Group Inc. raised its holdings in Service Properties Trust by 114.8% during 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 period. Capital Management Corp VA raised its holdings in Service Properties Trust by 27.5% during the 2nd quarter. Capital Management Corp VA now owns 7,225,765 shares of the real estate investment trust's stock worth $17,270,000 after buying an additional 1,559,600 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Service Properties Trust during the 4th quarter worth approximately $3,593,000. Millennium Management LLC raised its holdings in Service Properties Trust by 279.7% during the 4th quarter. Millennium Management LLC now owns 1,858,949 shares of the real estate investment trust's stock worth $4,722,000 after buying an additional 1,369,306 shares during the period. Finally, Nuveen LLC acquired a new stake in Service Properties Trust during the 1st quarter worth approximately $3,306,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Service Properties Trust from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Service Properties Trust presently has a consensus rating of "Hold" and an average target price of $3.00.

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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