Service Properties Trust (NASDAQ:SVC) Price Target Cut to $3.00 by Analysts at Wells Fargo & Company

Service Properties Trust (NASDAQ:SVC) had its price objective cut by stock analysts at Wells Fargo & Company from $4.00 to $3.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.74% from the stock’s previous close.

Separately, B. Riley decreased their target price on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock opened at $2.92 on Tuesday. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market cap of $486.62 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. The stock’s 50-day moving average is $3.84 and its 200-day moving average is $4.67. Service Properties Trust has a one year low of $2.47 and a one year high of $8.72.

Service Properties Trust (NASDAQ:SVC) last released its earnings results 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). The firm had revenue of $491.17 million during the quarter, compared to the consensus estimate of $497.97 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. During the same quarter in the previous year, the firm posted $0.56 EPS. Equities analysts predict that Service Properties Trust will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of Service Properties Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in SVC. Virtu Financial LLC bought a new position in shares of Service Properties Trust during the 3rd quarter worth approximately $170,000. Barclays PLC lifted its holdings in shares of Service Properties Trust by 310.6% in the third quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust’s stock worth $1,279,000 after acquiring an additional 212,130 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Service Properties Trust by 3.5% in 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. boosted 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 buying an additional 5,400 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Service Properties Trust in the third quarter valued at approximately $71,000. 77.62% of the stock is owned by institutional investors.

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.