Wells Fargo & Company Lowers Service Properties Trust (NASDAQ:SVC) Price Target to $3.00

Service Properties Trust (NASDAQ:SVC) had its price target decreased by investment analysts at Wells Fargo & Company from $4.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential upside of 7.53% from the stock’s previous close.

Separately, B. Riley dropped their price objective on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Service Properties Trust Trading Up 1.1 %

Shares of Service Properties Trust stock opened at $2.79 on Tuesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $464.95 million, a P/E ratio of -1.90 and a beta of 2.23. Service Properties Trust has a 1 year low of $2.47 and a 1 year high of $8.72. The company’s fifty day moving average is $3.76 and its two-hundred day moving average is $4.63.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. The company had revenue of $491.17 million during the quarter, compared to analyst estimates of $497.97 million. During the same quarter last year, the firm earned $0.56 EPS. Analysts forecast that Service Properties Trust will post 1.13 earnings per share for the current year.

Institutional Trading of Service Properties Trust

Several hedge funds and other institutional investors have recently made changes to their positions in SVC. CANADA LIFE ASSURANCE Co boosted its position in Service Properties Trust by 3.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 338,646 shares of the real estate investment trust’s stock worth $2,291,000 after purchasing an additional 11,444 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Service Properties Trust by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,570 shares of the real estate investment trust’s stock valued at $682,000 after acquiring an additional 5,948 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Service Properties Trust by 4.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 248,811 shares of the real estate investment trust’s stock valued at $1,687,000 after acquiring an additional 10,759 shares in the last quarter. Caxton Associates LP raised its position in Service Properties Trust by 87.9% during the first quarter. Caxton Associates LP now owns 41,401 shares of the real estate investment trust’s stock worth $281,000 after acquiring an additional 19,368 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in shares of Service Properties Trust by 196.1% in the first quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust’s stock valued at $166,000 after purchasing an additional 16,198 shares in the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

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.