Whitebox Advisors LLC Acquires 30,000 Shares of Service Properties Trust (NASDAQ:SVC)

Whitebox Advisors LLC raised its stake in Service Properties Trust (NASDAQ:SVC) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 640,602 shares of the real estate investment trust’s stock after acquiring an additional 30,000 shares during the period. Whitebox Advisors LLC’s holdings in Service Properties Trust were worth $2,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SVC. Xponance Inc. acquired a new stake in Service Properties Trust during the 2nd quarter worth about $53,000. Choreo LLC bought a new stake in shares of Service Properties Trust during the second quarter valued at approximately $54,000. Wolverine Trading LLC acquired a new position in Service Properties Trust during the third quarter worth $58,000. Walleye Capital LLC acquired a new stake in shares of Service Properties Trust in the 3rd quarter worth about $58,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Service Properties Trust in the second quarter worth approximately $68,000. Institutional investors and hedge funds own 77.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley dropped their price target on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company cut their price target on Service Properties Trust from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Tuesday, November 26th.

Service Properties Trust Stock Down 2.5 %

SVC stock opened at $2.74 on Friday. Service Properties Trust has a twelve month low of $2.47 and a twelve month high of $8.72. The firm has a market capitalization of $456.62 million, a PE ratio of -1.86 and a beta of 2.19. 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 stock has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $4.51.

Service Properties Trust (NASDAQ:SVC) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share 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 firm had revenue of $491.17 million for the quarter, compared to the consensus estimate of $497.97 million. During the same period last year, the company posted $0.56 EPS. On average, equities analysts predict that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.46%. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.72%.

Service Properties Trust 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.