Wells Fargo & Company Issues Pessimistic Forecast for Service Properties Trust (NASDAQ:SVC) Stock Price

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

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

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $2.79 on Tuesday. The stock has a market capitalization of $464.95 million, a price-to-earnings ratio of -1.90 and a beta of 2.23. The business has a 50-day moving average of $3.72 and a 200-day moving average of $4.62. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. Service Properties Trust has a fifty-two week low of $2.47 and a fifty-two week high of $8.72.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.65). The company had revenue of $491.17 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.56 EPS. As a group, sell-side analysts predict that Service Properties Trust will post 1.13 earnings per share for the current fiscal 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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is currently -2.72%.

Hedge Funds Weigh In On Service Properties Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of SVC. Xponance Inc. bought a new stake in shares of Service Properties Trust during the second quarter worth approximately $53,000. Choreo LLC bought a new stake in shares of Service Properties Trust during the second quarter worth approximately $54,000. Walleye Capital LLC bought a new stake in shares of Service Properties Trust during the third quarter worth approximately $58,000. Wolverine Trading LLC bought a new stake in shares of Service Properties Trust during the third quarter worth approximately $58,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Service Properties Trust during the second quarter worth approximately $68,000. 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.