Service Properties Trust (NASDAQ:SVC) Releases Earnings Results, Misses Expectations By $0.94 EPS

Service Properties Trust (NASDAQ:SVC) announced its quarterly earnings results on Tuesday. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.94), Zacks reports. Service Properties Trust had a negative net margin of 7.29% and a negative return on equity of 11.01%. The company had revenue of $512.95 million for the quarter, compared to analysts’ expectations of $509.33 million. During the same quarter in the prior year, the firm earned $0.58 EPS.

Service Properties Trust Stock Performance

Shares of NASDAQ SVC traded down $0.12 during midday trading on Friday, hitting $4.66. 1,437,122 shares of the stock traded hands, compared to its average volume of 1,080,621. The firm has a market capitalization of $772.44 million, a P/E ratio of -5.49 and a beta of 2.21. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.04 and a current ratio of 0.04. Service Properties Trust has a one year low of $4.56 and a one year high of $8.85. The firm has a 50-day moving average of $5.27 and a two-hundred day moving average of $6.18.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 17.17%. The ex-dividend date is Monday, July 22nd. Service Properties Trust’s dividend payout ratio is currently -95.24%.

Analysts Set New Price Targets

Separately, B. Riley cut their target price on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday.

About Service Properties Trust

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.