Wells Fargo & Company Cuts Service Properties Trust (NASDAQ:SVC) Price Target to $2.50

Service Properties Trust (NASDAQ:SVC) had its price target decreased by Wells Fargo & Company from $2.75 to $2.50 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Service Properties Trust Stock Performance

Shares of SVC stock opened at $2.78 on Tuesday. The company has a market cap of $463.29 million, a price-to-earnings ratio of -1.89 and a beta of 2.19. Service Properties Trust has a 52 week low of $2.29 and a 52 week high of $7.73. 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 firm has a 50 day moving average of $2.62 and a 200-day moving average of $3.49.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s payout ratio is currently -2.72%.

Institutional Trading of Service Properties Trust

Hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 4,942 shares during the period. Wolverine Trading LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at $58,000. Walleye Capital LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at $58,000. Tidal Investments LLC acquired a new stake in Service Properties Trust in the 4th quarter valued at $33,000. Finally, Cibc World Markets Corp acquired a new stake in Service Properties Trust in the 4th quarter valued at $39,000. 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.