Service Properties Trust (NASDAQ:SVC) Hits New 52-Week Low at $6.31

Service Properties Trust (NASDAQ:SVC) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.31 and last traded at $6.33, with a volume of 1156919 shares changing hands. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. B. Riley lowered their target price on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Wells Fargo & Company reduced their target price on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a report on Thursday, March 21st.

Service Properties Trust Stock Performance

The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50 day moving average price is $6.88 and its 200 day moving average price is $7.41.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 13.03%. The ex-dividend date of this dividend is Friday, April 19th. Service Properties Trust’s payout ratio is currently -400.00%.

Hedge Funds Weigh In On Service Properties Trust

Several institutional investors and hedge funds have recently modified their holdings of SVC. BlackRock Inc. raised its position in Service Properties Trust by 0.4% during the first quarter. BlackRock Inc. now owns 32,357,954 shares of the real estate investment trust’s stock worth $285,719,000 after acquiring an additional 121,531 shares during the period. Vanguard Group Inc. increased its stake in Service Properties Trust by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 27,179,033 shares of the real estate investment trust’s stock worth $141,059,000 after buying an additional 445,826 shares in the last quarter. State Street Corp boosted its stake in shares of Service Properties Trust by 12.2% in the first quarter. State Street Corp now owns 10,852,926 shares of the real estate investment trust’s stock worth $95,831,000 after acquiring an additional 1,179,868 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Service Properties Trust by 3.0% during the second quarter. Geode Capital Management LLC now owns 3,743,150 shares of the real estate investment trust’s stock worth $32,528,000 after buying an additional 107,605 shares in the last quarter. Finally, Capital Management Corp VA grew its position in shares of Service Properties Trust by 14.8% in the fourth quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock valued at $27,698,000 after purchasing an additional 417,225 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

About Service Properties Trust

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.