Service Properties Trust (NASDAQ:SVC) Reaches New 1-Year Low – Here’s Why

Service Properties Trust (NASDAQ:SVC)’s stock price hit a new 52-week low on Tuesday. The company traded as low as $5.65 and last traded at $5.8050, with a volume of 623,105 shares traded. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

SVC has been the topic of a number of recent research reports. Loop Capital set a $9.00 price objective on shares of Service Properties Trust in a research note on Friday, October 2nd. Weiss Ratings downgraded shares of Service Properties Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. B. Riley Financial raised their price target on Service Properties Trust from $10.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, June 17th. LADENBURG THALM/SH SH assumed coverage on Service Properties Trust in a research report on Tuesday, June 30th. They issued a “buy” rating and a $11.25 price target on the stock. Finally, Zacks Research upgraded Service Properties Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Service Properties Trust has a consensus rating of “Hold” and an average target price of $12.05.

Service Properties Trust Trading Down 1.2%

The firm has a market cap of $758.41 million, a PE ratio of -0.76 and a beta of 1.72. The company’s fifty day moving average price is $7.27 and its two-hundred day moving average price is $7.79. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Monday, October 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust’s payout ratio is currently -2.60%.

Institutional Trading of Service Properties Trust

Several hedge funds have recently modified their holdings of SVC. Bank of New York Mellon Corp purchased a new stake in shares of Service Properties Trust in the second quarter valued at approximately $3,691,000. Yorkville Advisors Global LP purchased a new position in Service Properties Trust in the first quarter worth $28,333,000. Arizona State Retirement System purchased a new stake in shares of Service Properties Trust during the 2nd quarter worth $279,000. Headlands Technologies LLC purchased a new stake in shares of Service Properties Trust during the 2nd quarter worth $543,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Service Properties Trust during the 2nd quarter worth $1,153,000. 77.62% of the stock is owned by institutional investors and hedge funds.

About Service Properties Trust

Service Properties Trust (NASDAQ:SVC) is a real estate investment trust that owns and invests in hotels and service-oriented commercial properties. The company generally leases its properties to operating companies under long-term agreements, generating rental income from a diversified portfolio.

Service Properties Trust’s hotel portfolio includes properties operated under well-known brands and independent names, while its service-focused properties serve businesses such as travel centers, healthcare providers and other essential-service operators.