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

Service Properties Trust (NASDAQ:SVC) had its target price trimmed by Wells Fargo & Company from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

Separately, B. Riley dropped their price objective 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 Trading Down 0.4 %

Shares of SVC opened at $2.78 on Tuesday. Service Properties Trust has a twelve month low of $2.47 and a twelve month high of $8.72. The firm has a market capitalization of $463.29 million, a P/E ratio of -1.89 and a beta of 2.23. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock’s fifty day simple moving average is $3.68 and its 200 day simple moving average is $4.60.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data 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 return on equity of 22.67% and a negative net margin of 12.87%. The firm had revenue of $491.17 million during the quarter, compared to analysts’ expectations of $497.97 million. During the same quarter last year, the business earned $0.56 earnings per share. On average, equities research analysts forecast that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.44%. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.72%.

Institutional Trading of Service Properties Trust

Several large investors have recently bought and sold shares of SVC. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 616,718 shares during the period. Capital Management Corp VA lifted its holdings in Service Properties Trust by 9.6% in the 3rd quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock worth $23,596,000 after buying an additional 453,944 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 151,234 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Service Properties Trust by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock valued at $12,522,000 after acquiring an additional 85,791 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 acquiring an additional 828,765 shares during the last quarter. 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.