Service Properties Trust (NASDAQ:SVC) Upgraded at Zacks Research

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

A number of other equities research analysts have also commented on SVC. Wells Fargo & Company raised Service Properties Trust to a “hold” rating in a research report on Friday, October 3rd. B. Riley reissued a “neutral” rating and set a $3.00 target price (up from $2.00) on shares of Service Properties Trust in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Service Properties Trust in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $2.75.

Service Properties Trust Price Performance

Shares of SVC stock opened at $1.75 on Tuesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $3.08. The firm has a fifty day moving average of $2.44 and a 200-day moving average of $2.46. The firm has a market capitalization of $294.15 million, a price-to-earnings ratio of -1.05 and a beta of 1.86.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, October 27th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $0.04 annualized dividend and a yield of 2.3%. Service Properties Trust’s payout ratio is -2.40%.

Hedge Funds Weigh In On Service Properties Trust

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Service Properties Trust by 7.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,127,210 shares of the real estate investment trust’s stock worth $21,212,000 after acquiring an additional 572,954 shares in the last quarter. Capital Management Corp VA grew its stake in 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 valued at $17,270,000 after purchasing an additional 1,559,600 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 2,200,754 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Service Properties Trust by 16.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,965,472 shares of the real estate investment trust’s stock worth $8,036,000 after purchasing an additional 420,785 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Service Properties Trust by 5.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,080,047 shares of the real estate investment trust’s stock worth $5,636,000 after purchasing an additional 115,426 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

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.