Service Properties Trust (NASDAQ:SVC - Get Free Report) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 5,300,000 shares, a decrease of 25.4% from the February 28th total of 7,100,000 shares. Currently, 3.4% of the company's stock are sold short. Based on an average trading volume of 2,930,000 shares, the short-interest ratio is presently 1.8 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Service Properties Trust by 87.1% in the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 4,942 shares in the last quarter. Wolverine Trading LLC bought a new position in shares of Service Properties Trust in the third quarter worth $58,000. Walleye Capital LLC bought a new stake in shares of Service Properties Trust during the 3rd quarter valued at $58,000. Tidal Investments LLC purchased a new position in Service Properties Trust during the fourth quarter valued at approximately $33,000. Finally, Cibc World Markets Corp purchased a new position in shares of Service Properties Trust during the 4th quarter valued at $39,000. Institutional investors own 77.62% of the company's stock.
Wall Street Analyst Weigh In
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 report on Wednesday, March 19th.
Get Our Latest Research Report on Service Properties Trust
Service Properties Trust Stock Performance
SVC traded down $0.36 during midday trading on Thursday, reaching $2.27. The company had a trading volume of 1,597,500 shares, compared to its average volume of 1,949,752. Service Properties Trust has a 12-month low of $2.15 and a 12-month high of $6.85. The business has a 50-day moving average price of $2.73 and a two-hundred day moving average price of $3.09. The stock has a market cap of $378.27 million, a PE ratio of -1.54 and a beta of 1.80. 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 Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were paid a $0.01 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.04 annualized dividend and a dividend yield of 1.76%. Service Properties Trust's payout ratio is presently -2.40%.
About Service Properties Trust
(
Get Free Report)
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.
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