Oppenheimer Initiates Coverage on Service Properties Trust (NASDAQ:SVC)

Equities researchers at Oppenheimer assumed coverage on shares of Service Properties Trust (NASDAQ:SVC – Get Rating) in a report issued on Thursday, Marketbeat reports. The brokerage set a “market perform” rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Service Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 2nd. B. Riley decreased their price target on Service Properties Trust from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, February 28th.

Shares of SVC stock traded down $0.27 on Thursday, reaching $8.27. 1,104,406 shares of the company’s stock were exchanged, compared to its average volume of 1,524,509. Service Properties Trust has a 52 week low of $7.01 and a 52 week high of $15.39. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 4.59. The company has a market cap of $1.37 billion, a PE ratio of -2.58 and a beta of 2.23. The business has a fifty day moving average of $8.55.

Service Properties Trust (NASDAQ:SVC – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The real estate investment trust reported ($1.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.67). Service Properties Trust had a negative return on equity of 30.99% and a negative net margin of 36.41%. During the same period in the prior year, the business earned ($0.14) EPS. Equities analysts predict that Service Properties Trust will post 1.6 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SVC. Penserra Capital Management LLC increased its holdings in shares of Service Properties Trust by 68.8% in the 3rd quarter. Penserra Capital Management LLC now owns 4,550 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,855 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Service Properties Trust by 120.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 4,952 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 2,707 shares during the period. Van ECK Associates Corp increased its holdings in shares of Service Properties Trust by 15.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,653 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 1,034 shares during the period. First Republic Investment Management Inc. purchased a new position in shares of Service Properties Trust in the 4th quarter valued at $89,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Service Properties Trust in the 3rd quarter valued at $112,000. Institutional investors own 77.63% of the company’s stock.

About Service Properties Trust (Get Rating)

Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC's properties are primarily operated under long-term management or lease agreements.

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