Service Properties Trust (NASDAQ:SVC) Sees Large Growth in Short Interest

Service Properties Trust (NASDAQ:SVC) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 5,650,000 shares, a growth of 30.8% from the January 15th total of 4,320,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 3,270,000 shares, the days-to-cover ratio is presently 1.7 days.

Service Properties Trust Stock Up 1.6 %

NASDAQ SVC opened at $2.62 on Friday. 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 50 day moving average price of $2.63 and a two-hundred day moving average price of $3.55. Service Properties Trust has a 12-month low of $2.29 and a 12-month high of $7.82.

Service Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, January 27th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, January 27th. Service Properties Trust’s payout ratio is -2.72%.

Analyst Ratings Changes

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

Institutional Trading of Service Properties Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC acquired a new stake in shares of Service Properties Trust in the fourth quarter worth $20,553,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Service Properties Trust by 20.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust’s stock worth $19,188,000 after buying an additional 1,259,382 shares during the last quarter. Capital Management Corp VA lifted its stake in shares of Service Properties Trust by 9.6% in the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock worth $23,596,000 after buying an additional 453,944 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Service Properties Trust by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,563,212 shares of the real estate investment trust’s stock worth $11,593,000 after buying an additional 53,389 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Service Properties Trust by 2,999.1% in the fourth quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock worth $6,398,000 after buying an additional 2,437,613 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.

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.