Service Properties Trust (SVC) to Issue Quarterly Dividend of $0.20 on May 16th

Service Properties Trust (NASDAQ:SVC) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Monday, April 22nd will be paid a dividend of 0.20 per share by the real estate investment trust on Thursday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 12.64%. The ex-dividend date of this dividend is Friday, April 19th.

Service Properties Trust has raised its dividend payment by an average of 12.0% per year over the last three years. Service Properties Trust has a payout ratio of -109.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Service Properties Trust to earn $1.60 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 50.0%.

Service Properties Trust Stock Down 1.7 %

NASDAQ SVC opened at $6.33 on Wednesday. Service Properties Trust has a 1-year low of $6.31 and a 1-year high of $9.68. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09. The business’s fifty day moving average price is $6.91 and its 200-day moving average price is $7.42.

Institutional Investors Weigh In On Service Properties Trust

A number of institutional investors have recently bought and sold shares of SVC. Point72 Hong Kong Ltd raised its position in Service Properties Trust by 350.6% in the 1st quarter. Point72 Hong Kong Ltd now owns 4,389 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,415 shares during the period. Captrust Financial Advisors acquired a new stake in Service Properties Trust in the second quarter valued at approximately $41,000. Quilter Plc purchased a new position in Service Properties Trust during the second quarter valued at $48,000. Tower Research Capital LLC TRC raised its holdings in shares of Service Properties Trust by 146.8% during the first quarter. Tower Research Capital LLC TRC now owns 5,131 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 3,052 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Service Properties Trust during the 4th quarter worth $88,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SVC shares. B. Riley dropped their price objective on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Wells Fargo & Company dropped their price target on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research note on Thursday, March 21st.

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.