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

Service Properties Trust (NASDAQ:SVC) had its target price reduced by investment analysts at Wells Fargo & Company from $3.00 to $2.75 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 1.08% from the stock’s previous close.

Service Properties Trust Stock Performance

NASDAQ SVC traded up $0.04 during trading hours on Monday, reaching $2.78. The stock had a trading volume of 2,581,936 shares, compared to its average volume of 1,350,092. Service Properties Trust has a 52-week low of $2.47 and a 52-week high of $8.72. The stock has a fifty day moving average of $3.47 and a 200 day moving average of $4.48. 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 stock has a market cap of $463.29 million, a P/E ratio of -1.89 and a beta of 2.19.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) 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 business had revenue of $491.17 million during the quarter, compared to analysts’ expectations of $497.97 million. During the same period last year, the company earned $0.56 earnings per share. Sell-side analysts predict that Service Properties Trust will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 5,948 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Service Properties Trust in the 2nd quarter valued at $68,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Service Properties Trust by 48.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,820 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 12,374 shares during the period. Choreo LLC purchased a new position in Service Properties Trust during the second quarter valued at $54,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of Service Properties Trust by 25.5% during the second quarter. Texas Permanent School Fund Corp now owns 182,043 shares of the real estate investment trust’s stock worth $936,000 after purchasing an additional 36,963 shares in the last quarter. 77.62% of the stock is owned by institutional investors and hedge funds.

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.