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

Service Properties Trust (NASDAQ:SVC) shares crossed 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.

Wall Street Analysts Forecast Growth

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

Service Properties Trust Price Performance

The business’s 50-day moving average price is $6.89 and its 200 day moving average price is $7.69. The company has a market capitalization of $796.48 million, a P/E ratio of -0.80 and a beta of 1.72. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 2.11.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, October 19th will be paid a $0.05 dividend. The ex-dividend date is Monday, October 19th. This represents a $0.20 annualized dividend and a yield of 3.3%. Service Properties Trust’s dividend payout ratio is currently -2.60%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Yorkville Advisors Global LP purchased a new position in Service Properties Trust during the first quarter worth about $28,333,000. Bank of New York Mellon Corp purchased a new stake in shares of Service Properties Trust in the 2nd quarter valued at about $3,691,000. Public Employees Retirement System of Ohio bought a new stake in shares of Service Properties Trust during the 2nd quarter valued at about $1,153,000. Headlands Technologies LLC bought a new stake in shares of Service Properties Trust during the 2nd quarter valued at about $543,000. Finally, Arizona State Retirement System bought a new stake in shares of Service Properties Trust during the 2nd quarter valued at about $279,000. 77.62% of the stock is currently owned by hedge funds and other 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.