Service Properties Trust (NASDAQ:SVC) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Service Properties Trust (NASDAQ:SVC) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Separately, B. Riley assumed coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $2.00 price objective for the company. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.00.

Service Properties Trust Stock Down 0.8%

SVC opened at $2.63 on Tuesday. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $5.00. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 5.79. The business’s 50-day moving average price is $2.60 and its 200-day moving average price is $2.44. The company has a market cap of $438.84 million, a P/E ratio of -1.57 and a beta of 1.91.

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

Service Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were paid a $0.01 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. Service Properties Trust’s dividend payout ratio is presently -2.40%.

Institutional Trading of Service Properties Trust

Large investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC bought a new stake in shares of Service Properties Trust during the 4th quarter valued at $20,553,000. Balyasny Asset Management L.P. purchased a new stake in Service Properties Trust in the 4th quarter worth approximately $6,900,000. Jane Street Group LLC raised its stake in Service Properties Trust by 2,999.1% during the 4th quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock worth $6,398,000 after acquiring an additional 2,437,613 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Service Properties Trust by 114.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,118,530 shares of the real estate investment trust’s stock valued at $10,749,000 after purchasing an additional 2,200,754 shares in the last quarter. Finally, Capital Management Corp VA boosted its position in shares of Service Properties Trust by 27.5% in the second quarter. Capital Management Corp VA now owns 7,225,765 shares of the real estate investment trust’s stock worth $17,270,000 after purchasing an additional 1,559,600 shares during the period. 77.62% of the stock is currently owned by institutional investors.

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.