Service Properties Trust (NASDAQ:SVC) Given New $2.50 Price Target at Wells Fargo & Company

Service Properties Trust (NASDAQ:SVC) had its price target lowered by Wells Fargo & Company from $2.75 to $2.50 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Service Properties Trust Price Performance

Service Properties Trust stock opened at $2.62 on Tuesday. Service Properties Trust has a twelve month low of $2.29 and a twelve month high of $7.73. The stock has a 50 day moving average of $2.63 and a two-hundred day moving average of $3.52. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $436.62 million, a price-to-earnings ratio of -1.78 and a beta of 2.19.

Service Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, January 27th. Service Properties Trust’s dividend payout ratio (DPR) is -2.72%.

Hedge Funds Weigh In On Service Properties Trust

Hedge funds have recently bought and sold shares of the company. Alpine Global Management LLC purchased a new position in Service Properties Trust during the fourth quarter worth $200,000. Two Sigma Advisers LP increased its position in Service Properties Trust by 805.0% during the fourth quarter. Two Sigma Advisers LP now owns 400,900 shares of the real estate investment trust’s stock worth $1,018,000 after buying an additional 356,600 shares in the last quarter. Two Sigma Investments LP purchased a new position in Service Properties Trust during the fourth quarter worth $1,807,000. Tidal Investments LLC purchased a new position in Service Properties Trust during the fourth quarter worth $33,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Service Properties Trust during the fourth quarter worth $602,000. 77.62% of the stock is owned by hedge funds and other institutional investors.

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.