Balyasny Asset Management L.P. Makes New Investment in Service Properties Trust (NASDAQ:SVC)

Balyasny Asset Management L.P. acquired a new stake in shares of Service Properties Trust (NASDAQ:SVC) in the fourth quarter, HoldingsChannel reports. The firm acquired 2,716,625 shares of the real estate investment trust’s stock, valued at approximately $6,900,000.

Several other large investors have also recently made changes to their positions in SVC. Quadrant Capital Group LLC lifted its position in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 4,942 shares during the last quarter. Cibc World Markets Corp purchased a new position in Service Properties Trust in the fourth quarter worth about $39,000. Corient Private Wealth LLC bought a new stake in Service Properties Trust during the fourth quarter worth approximately $41,000. Boothbay Fund Management LLC purchased a new stake in Service Properties Trust during the fourth quarter valued at approximately $48,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Service Properties Trust in the 4th quarter valued at approximately $49,000. 77.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on SVC shares. Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley assumed coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $2.00 target price for the company.

Service Properties Trust Price Performance

SVC opened at $2.01 on Friday. The business has a fifty day moving average of $2.24 and a 200 day moving average of $2.59. The stock has a market cap of $334.94 million, a P/E ratio of -1.37 and a beta of 1.77. 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 52-week low of $1.71 and a 52-week high of $6.34.

Service Properties Trust (NASDAQ:SVC) last issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $435.18 million during the quarter, compared to analyst estimates of $433.21 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, April 22nd. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.12%.

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.