Service Properties Trust (NASDAQ:SVC) Price Target Lowered to $2.75 at Wells Fargo & Company

Service Properties Trust (NASDAQ:SVC) had its price objective trimmed by Wells Fargo & Company from $3.00 to $2.75 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

Service Properties Trust Price Performance

SVC stock opened at $2.81 on Monday. The business has a 50 day moving average price of $3.44 and a 200 day moving average price of $4.46. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market cap of $468.29 million, a price-to-earnings ratio of -1.91 and a beta of 2.19. Service Properties Trust has a fifty-two week low of $2.47 and a fifty-two week high of $8.72.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The company had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts anticipate that Service Properties Trust will post 1.13 earnings per share for the current fiscal year.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, October 28th. Service Properties Trust’s payout ratio is -2.72%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SVC. Virtu Financial LLC acquired a new position in Service Properties Trust in the third quarter valued at $170,000. Barclays PLC increased its position in Service Properties Trust by 310.6% in the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust’s stock valued at $1,279,000 after acquiring an additional 212,130 shares during the period. Geode Capital Management LLC raised its stake in Service Properties Trust by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust’s stock valued at $20,568,000 after acquiring an additional 151,234 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Service Properties Trust by 2.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 211,100 shares of the real estate investment trust’s stock worth $963,000 after acquiring an additional 5,400 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Service Properties Trust in the 3rd quarter valued at approximately $71,000. 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.