Service Properties Trust (NASDAQ:SVC) Raised to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Service Properties Trust (NASDAQ:SVC) from an underweight rating to an overweight rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has $4.00 price target on the real estate investment trust’s stock, up from their prior price target of $2.50.

Service Properties Trust Price Performance

NASDAQ:SVC opened at $2.81 on Wednesday. Service Properties Trust has a 12-month low of $2.29 and a 12-month high of $6.85. The firm has a market capitalization of $468.25 million, a price-to-earnings ratio of -1.91 and a beta of 2.20. The stock’s 50 day moving average price is $2.72 and its two-hundred day moving average price is $3.21. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.42%. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.40%.

Hedge Funds Weigh In On Service Properties Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SVC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Service Properties Trust by 395.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock worth $4,735,000 after purchasing an additional 828,765 shares during the last quarter. Barclays PLC lifted its position in shares of Service Properties Trust by 310.6% during the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust’s stock worth $1,279,000 after buying an additional 212,130 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Service Properties Trust by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock valued at $28,705,000 after buying an additional 616,718 shares in the last quarter. Intech Investment Management LLC grew its position in Service Properties Trust by 17.3% in the third quarter. Intech Investment Management LLC now owns 67,969 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its stake in Service Properties Trust by 300.5% during the fourth quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 131,237 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.