Service Properties Trust (NASDAQ:SVC - Get Free Report) had its price objective lowered by equities research analysts at Wells Fargo & Company from $2.75 to $2.50 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target would suggest a potential downside of 7.06% from the stock's current price.
Service Properties Trust Stock Performance
Service Properties Trust stock traded down $0.09 during mid-day trading on Tuesday, hitting $2.69. 1,398,525 shares of the company's stock traded hands, compared to its average volume of 1,599,586. The firm has a 50 day moving average price of $2.63 and a 200 day moving average price of $3.49. 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 company has a market cap of $448.29 million, a PE ratio of -1.83 and a beta of 2.19. Service Properties Trust has a one year low of $2.29 and a one year high of $7.73.
Hedge Funds Weigh In On Service Properties Trust
Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Service Properties Trust by 87.1% during 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. Tidal Investments LLC acquired a new position in shares of Service Properties Trust during the 4th quarter valued at $33,000. Cibc World Markets Corp acquired a new position in shares of Service Properties Trust during the 4th quarter valued at $39,000. Corient Private Wealth LLC acquired a new position in shares of Service Properties Trust in the 4th quarter worth $41,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Service Properties Trust in the 4th quarter worth $48,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.
Service Properties Trust Company Profile
(
Get Free Report)
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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