Wells Fargo & Company Cuts Service Properties Trust (NASDAQ:SVC) Price Target to $4.00

Service Properties Trust (NASDAQ:SVC) had its price objective lowered by analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 14.53% from the stock’s previous close.

Separately, B. Riley cut their price target on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Service Properties Trust Trading Up 1.7 %

Shares of NASDAQ:SVC traded up $0.08 during mid-day trading on Friday, hitting $4.68. The company had a trading volume of 243,921 shares, compared to its average volume of 1,094,582. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. Service Properties Trust has a one year low of $4.26 and a one year high of $8.72. The firm has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.63. The company has a market capitalization of $776.37 million, a PE ratio of -5.57 and a beta of 2.20.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.94). The company had revenue of $512.95 million during the quarter, compared to the consensus estimate of $509.33 million. Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. During the same period last year, the firm posted $0.58 earnings per share. As a group, research analysts forecast that Service Properties Trust will post 1.21 EPS for the current year.

Institutional Trading of Service Properties Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Service Properties Trust during the fourth quarter valued at approximately $9,333,000. Charles Schwab Investment Management Inc. grew its stake in shares of Service Properties Trust by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,087 shares of the real estate investment trust’s stock worth $23,896,000 after acquiring an additional 91,272 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Service Properties Trust by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 2,476 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Service Properties Trust by 18.2% in the fourth quarter. Victory Capital Management Inc. now owns 147,590 shares of the real estate investment trust’s stock valued at $1,260,000 after purchasing an additional 22,691 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Service Properties Trust by 6.3% during the first 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. 77.62% of the stock is owned by 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.