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

Service Properties Trust (NASDAQ:SVC) had its price objective decreased by Wells Fargo & Company from $3.00 to $2.75 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Service Properties Trust Stock Down 6.8 %

NASDAQ:SVC opened at $2.61 on Monday. The stock’s fifty day moving average price is $3.36 and its two-hundred day moving average price is $4.43. The company has a market cap of $434.96 million, a price-to-earnings ratio of -1.78 and a beta of 2.19. Service Properties Trust has a 52-week low of $2.47 and a 52-week high of $8.72. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). The firm had revenue of $491.17 million for the quarter, compared to analyst estimates 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 period last year, the company earned $0.56 EPS. On average, analysts anticipate that Service Properties Trust will post 1.13 EPS for the current year.

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were 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 was Monday, October 28th. Service Properties Trust’s dividend payout ratio (DPR) is -2.72%.

Institutional Trading of Service Properties Trust

A number of institutional investors have recently bought and sold shares of the business. Xponance Inc. acquired a new position in Service Properties Trust in the second quarter valued at about $53,000. Choreo LLC acquired a new stake in shares of Service Properties Trust in the 2nd quarter valued at approximately $54,000. Walleye Capital LLC bought a new position in Service Properties Trust during the 3rd quarter worth approximately $58,000. Wolverine Trading LLC acquired a new position in Service Properties Trust during the third quarter valued at approximately $58,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Service Properties Trust in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 77.62% of the company’s stock.

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.