Service Properties Trust (NASDAQ:SVC) Shares Gap Up - Time to Buy?

Service Properties Trust (NASDAQ:SVC - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.49, but opened at $2.70. Service Properties Trust shares last traded at $3.04, with a volume of 3,883,911 shares changing hands.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised Service Properties Trust from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $2.50 to $4.00 in a research note on Wednesday.

Service Properties Trust Trading Down 4.4 %

The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The company's 50-day moving average is $2.72 and its 200-day moving average is $3.20. The stock has a market capitalization of $468.25 million, a price-to-earnings ratio of -1.91 and a beta of 2.21.

Service Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, January 27th. This represents a $0.04 annualized dividend and a yield of 1.42%. Service Properties Trust's dividend payout ratio (DPR) is -2.40%.

Institutional Trading of Service Properties Trust

A number of hedge funds and other institutional investors have recently modified their holdings of SVC. Quadrant Capital Group LLC boosted its stake in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after buying an additional 4,942 shares during the period. Tidal Investments LLC purchased a new position in Service Properties Trust in the fourth quarter valued at $33,000. Cibc World Markets Corp acquired a new position in Service Properties Trust in the fourth quarter valued at approximately $39,000. Corient Private Wealth LLC acquired a new stake in Service Properties Trust during the fourth quarter worth approximately $41,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $48,000. 77.62% of the stock is owned by institutional investors and hedge funds.

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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.