Service Properties Trust (NASDAQ:SVC) Sees Large Growth in Short Interest

Service Properties Trust (NASDAQ:SVC) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 10,470,000 shares, an increase of 23.5% from the November 30th total of 8,480,000 shares. Based on an average trading volume of 3,360,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 6.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a research note on Monday, December 9th.

Service Properties Trust Stock Down 1.6 %

Shares of NASDAQ:SVC opened at $2.45 on Tuesday. The firm has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $4.17. Service Properties Trust has a 52 week low of $2.29 and a 52 week high of $8.65. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $408.29 million, a PE ratio of -1.67 and a beta of 2.19.

Service Properties Trust (NASDAQ:SVC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). The firm had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. During the same period last year, the firm earned $0.56 earnings per share. As a group, research analysts expect that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a dividend of $0.01 per share. The ex-dividend date was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.63%. Service Properties Trust’s payout ratio is presently -2.72%.

Hedge Funds Weigh In On Service Properties Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. acquired a new stake in shares of Service Properties Trust during the second quarter worth approximately $53,000. Choreo LLC purchased a new stake in Service Properties Trust in the 2nd quarter worth approximately $54,000. Walleye Capital LLC acquired a new stake in shares of Service Properties Trust during the 3rd quarter valued at $58,000. Wolverine Trading LLC acquired a new stake in shares of Service Properties Trust during the 3rd quarter valued at $58,000. Finally, Family Wealth Partners LLC purchased a new position in shares of Service Properties Trust during the 3rd quarter valued at $69,000. Hedge funds and other institutional investors 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.