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

Service Properties Trust (NASDAQ:SVC) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 5,300,000 shares, a drop of 25.4% from the February 28th total of 7,100,000 shares. Based on an average daily volume of 2,930,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.4% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and upped their target price for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th.

Service Properties Trust Price Performance

Shares of SVC stock opened at $2.59 on Tuesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 12 month low of $2.29 and a 12 month high of $6.85. The firm has a market cap of $430.76 million, a price-to-earnings ratio of -1.79 and a beta of 2.21. The stock has a 50-day moving average price of $2.74 and a 200 day moving average price of $3.11.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were issued a $0.01 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.55%. Service Properties Trust’s dividend payout ratio is presently -2.40%.

Hedge Funds Weigh In On Service Properties Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SVC. Nantahala Capital Management LLC bought a new stake in shares of Service Properties Trust in the 4th quarter valued at about $20,553,000. Balyasny Asset Management L.P. bought a new stake in Service Properties Trust in the fourth quarter valued at approximately $6,900,000. Jane Street Group LLC raised its holdings in Service Properties Trust by 2,999.1% in the fourth quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock worth $6,398,000 after purchasing an additional 2,437,613 shares during the period. Whitebox Advisors LLC increased its position in shares of Service Properties Trust by 234.8% in the 4th quarter. Whitebox Advisors LLC now owns 2,144,899 shares of the real estate investment trust’s stock valued at $5,448,000 after buying an additional 1,504,297 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Service Properties Trust during the 4th quarter worth $3,593,000. 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.