Service Properties Trust (NASDAQ:SVC) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Service Properties Trust (NASDAQ:SVC) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.62 and traded as high as $2.94. Service Properties Trust shares last traded at $2.89, with a volume of 1,848,720 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price target on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a research report on Monday, December 9th.

Service Properties Trust Price Performance

The business’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $3.85. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $481.62 million, a P/E ratio of -1.97 and a beta of 2.19.

Service Properties Trust (NASDAQ:SVC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.65). The firm had revenue of $491.17 million for the quarter, compared to the consensus estimate of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same period in the previous year, the firm earned $0.56 EPS.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, January 27th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, January 27th. Service Properties Trust’s payout ratio is currently -2.72%.

Hedge Funds Weigh In On Service Properties Trust

Several large investors have recently made changes to their positions in SVC. Van ECK Associates Corp increased its stake in shares of Service Properties Trust by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 3,112 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Service Properties Trust by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 3,122 shares during the last quarter. abrdn plc grew its position in Service Properties Trust by 10.5% during the third quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 3,236 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Service Properties Trust by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock valued at $1,128,000 after acquiring an additional 3,594 shares during the period. Finally, Metis Global Partners LLC raised its holdings in Service Properties Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 5,056 shares in the last quarter. 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.