Wells Fargo & Company Lowers Service Properties Trust (NASDAQ:SVC) Price Target to $3.00

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 to clients and investors 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 company’s previous close.

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

Service Properties Trust Stock Up 5.4 %

Shares of SVC opened at $2.92 on Tuesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market cap of $486.62 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. Service Properties Trust has a 12 month low of $2.47 and a 12 month high of $8.72. The company has a 50-day moving average price of $3.84 and a two-hundred day moving average price of $4.67.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $491.17 million during the quarter, compared to analyst estimates of $497.97 million. During the same quarter last year, the firm earned $0.56 earnings per share. Equities analysts predict that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in Service Properties Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 3,112 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Service Properties Trust by 13.0% during the 2nd quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 3,115 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Service Properties Trust by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 3,122 shares in the last quarter. abrdn plc grew its position in shares of Service Properties Trust by 10.5% in the 3rd quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 3,236 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Service Properties Trust by 1.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 3,594 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

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.