Wells Fargo & Company upgraded shares of Service Properties Trust (NASDAQ:SVC - Free Report) from an underweight rating to an overweight rating in a research note published on Wednesday, MarketBeat.com reports. Wells Fargo & Company currently has $4.00 price target on the real estate investment trust's stock, up from their previous price target of $2.50.
Service Properties Trust Stock Performance
NASDAQ:SVC traded down $0.13 during mid-day trading on Wednesday, hitting $2.81. The stock had a trading volume of 3,694,809 shares, compared to its average volume of 1,874,945. Service Properties Trust has a twelve month low of $2.29 and a twelve month high of $6.85. The stock has a market cap of $468.25 million, a price-to-earnings ratio of -1.91 and a beta of 2.21. The company's 50 day simple moving average is $2.72 and its 200 day simple moving average is $3.19. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were paid a $0.01 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.04 annualized dividend and a yield of 1.42%. Service Properties Trust's dividend payout ratio (DPR) is currently -2.40%.
Institutional Investors Weigh In On Service Properties Trust
Several hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC acquired a new stake in Service Properties Trust during the fourth quarter worth approximately $20,553,000. Balyasny Asset Management L.P. acquired a new stake in Service Properties Trust during the fourth quarter worth approximately $6,900,000. Jane Street Group LLC lifted its position in Service Properties Trust by 2,999.1% during the fourth quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust's stock worth $6,398,000 after acquiring an additional 2,437,613 shares during the last quarter. Whitebox Advisors LLC lifted its position in Service Properties Trust by 234.8% during the fourth quarter. Whitebox Advisors LLC now owns 2,144,899 shares of the real estate investment trust's stock worth $5,448,000 after acquiring an additional 1,504,297 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Service Properties Trust during the fourth quarter worth approximately $3,593,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.
Service Properties Trust Company Profile
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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.
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