Service Properties Trust (NASDAQ:SVC – Get Free Report) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.95 and traded as low as $6.55. Service Properties Trust shares last traded at $6.57, with a volume of 1,644,642 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SVC. LADENBURG THALM/SH SH started coverage on Service Properties Trust in a report on Tuesday, June 30th. They issued a “buy” rating and a $11.25 target price for the company. Weiss Ratings upgraded shares of Service Properties Trust from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. B. Riley Financial lifted their target price on shares of Service Properties Trust from $10.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Zacks Research upgraded shares of Service Properties Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Service Properties Trust has a consensus rating of “Hold” and an average price target of $12.81.
Get Our Latest Stock Report on Service Properties Trust
Service Properties Trust Stock Down 1.4%
Service Properties Trust Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 20th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.1%. This is a boost from Service Properties Trust’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, July 20th. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.60%.
Institutional Trading of Service Properties Trust
Several hedge funds have recently bought and sold shares of SVC. Yorkville Advisors Global LP bought a new position in shares of Service Properties Trust in the first quarter worth about $28,333,000. Bank of New York Mellon Corp purchased a new stake in Service Properties Trust in the 2nd quarter worth approximately $3,691,000. Bank of America Corp DE raised its stake in Service Properties Trust by 1.8% during the 1st quarter. Bank of America Corp DE now owns 2,338,854 shares of the real estate investment trust’s stock worth $3,169,000 after acquiring an additional 42,317 shares during the period. UBS Group AG raised its stake in Service Properties Trust by 266.8% during the 4th quarter. UBS Group AG now owns 1,308,186 shares of the real estate investment trust’s stock worth $2,407,000 after acquiring an additional 951,523 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Service Properties Trust during the second quarter valued at approximately $1,153,000. 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 that owns a diversified portfolio of hotels and service-oriented properties. The company generally leases its properties to operating companies and generates rental income from those arrangements, while hotel operations are conducted by third-party managers and tenants.
SVC’s hotel portfolio has included properties operated under a range of well-known hospitality brands and serving business, leisure and extended-stay travelers.
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