Service Properties Trust (NASDAQ:SVC) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Service Properties Trust (NASDAQ:SVC) passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $6.93 and traded as low as $6.06. Service Properties Trust shares last traded at $6.22, with a volume of 1,437,690 shares.

Analysts Set New Price Targets

SVC has been the subject of several analyst reports. Weiss Ratings downgraded shares of Service Properties Trust from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Loop Capital set a $9.00 price target on shares of Service Properties Trust in a research report on Friday, October 2nd. Zacks Research raised shares of Service Properties Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, LADENBURG THALM/SH SH began coverage on Service Properties Trust in a research report on Tuesday, June 30th. They issued a “buy” rating and a $11.25 price objective on the stock. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Service Properties Trust has a consensus rating of “Hold” and a consensus price target of $12.05.

Service Properties Trust Trading Up 2.0%

The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.01 and a current ratio of 0.01. The stock has a market cap of $805.55 million, a P/E ratio of -0.81 and a beta of 1.72. The stock has a 50-day moving average price of $6.93 and a 200-day moving average price of $7.70.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.60%.

Institutional Investors Weigh In On Service Properties Trust

Hedge funds have recently bought and sold shares of the stock. Yorkville Advisors Global LP purchased a new position in Service Properties Trust in the 1st quarter worth approximately $28,333,000. Bank of America Corp DE increased its holdings in shares of Service Properties Trust by 1.8% in 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 buying an additional 42,317 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Service Properties Trust during the 2nd quarter valued at $3,691,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Service Properties Trust during the 2nd quarter valued at $1,153,000. Finally, Inspire Investing LLC raised its position in shares of Service Properties Trust by 49.2% during the 1st quarter. Inspire Investing LLC now owns 386,912 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 127,587 shares in the last quarter. 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 that owns and invests in hospitality and service-oriented properties. The company’s portfolio has historically included hotels, extended-stay lodging properties and other real estate leased to businesses that provide essential or consumer-focused services.

Service Properties Trust generally leases its properties to hotel operators and other commercial tenants rather than managing most locations directly. Its hotel portfolio has included properties operated under a variety of well-known brands, while its service-focused properties have supported businesses such as healthcare, automotive and travel-related services.

The company’s properties are primarily located in the United States, with investments also having included select locations in Canada and Puerto Rico.