B. Riley Has Pessimistic Outlook of SVC FY2024 Earnings

Service Properties Trust (NASDAQ:SVC - Free Report) - Analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Service Properties Trust in a research report issued on Monday, November 11th. B. Riley analyst B. Maher now forecasts that the real estate investment trust will post earnings of $1.13 per share for the year, down from their previous estimate of $1.21. B. Riley has a "Buy" rating and a $8.00 price objective on the stock. The consensus estimate for Service Properties Trust's current full-year earnings is $1.13 per share. B. Riley also issued estimates for Service Properties Trust's Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.23 EPS, Q1 2026 earnings at $0.17 EPS, Q2 2026 earnings at $0.40 EPS and Q3 2026 earnings at $0.36 EPS.

Separately, Wells Fargo & Company cut their price target on Service Properties Trust from $5.00 to $4.00 and set an "underweight" rating on the stock in a research report on Friday, September 13th.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock traded down $0.03 during trading on Wednesday, hitting $2.90. 2,751,621 shares of the company's stock were exchanged, compared to its average volume of 1,265,137. The stock has a market capitalization of $483.28 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. The business has a 50-day simple moving average of $4.17 and a 200-day simple moving average of $4.87. Service Properties Trust has a 52-week low of $2.87 and a 52-week high of $8.72. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.65). Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The business had revenue of $491.17 million for the quarter, compared to analysts' expectations of $497.97 million. During the same period in the prior year, the business posted $0.56 earnings per share.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.38%. Service Properties Trust's payout ratio is -2.72%.

Institutional Trading of Service Properties Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Service Properties Trust by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust's stock worth $28,705,000 after buying an additional 616,718 shares during the period. Capital Management Corp VA increased its holdings in Service Properties Trust by 9.6% in the 3rd quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust's stock worth $23,596,000 after acquiring an additional 453,944 shares in the last quarter. Whitebox Advisors LLC raised its position in Service Properties Trust by 167.7% during the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust's stock worth $3,138,000 after acquiring an additional 382,502 shares during the period. AQR Capital Management LLC lifted its holdings in Service Properties Trust by 65.3% during the second quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust's stock valued at $3,607,000 after purchasing an additional 290,208 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Service Properties Trust by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust's stock valued at $12,522,000 after purchasing an additional 85,791 shares in the last quarter. Institutional investors and hedge funds 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.