Service Properties Trust (NASDAQ:SVC) Price Target Cut to $3.00 by Analysts at Wells Fargo & Company

Service Properties Trust (NASDAQ:SVC - Free Report) had its price objective lowered by Wells Fargo & Company from $4.00 to $3.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust's stock.

Separately, B. Riley cut their target price on Service Properties Trust from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, August 9th.

Service Properties Trust Price Performance

NASDAQ SVC traded down $0.16 during mid-day trading on Tuesday, hitting $2.76. The stock had a trading volume of 2,661,250 shares, compared to its average volume of 1,301,134. The firm's 50 day moving average is $3.84 and its 200 day moving average is $4.67. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $459.95 million, a price-to-earnings ratio of -1.99 and a beta of 2.23. Service Properties Trust has a twelve month low of $2.47 and a twelve month high of $8.72.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.65). The business had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Equities research analysts forecast that Service Properties Trust will post 1.13 earnings per share for the current fiscal year.

Service Properties Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Monday, October 28th. Service Properties Trust's dividend payout ratio is presently -2.72%.

Institutional Trading of Service Properties Trust

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Service Properties Trust in the 3rd quarter valued at $170,000. Barclays PLC grew its position in Service Properties Trust by 310.6% in the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust's stock valued at $1,279,000 after acquiring an additional 212,130 shares in the last quarter. Geode Capital Management LLC increased its stake in Service Properties Trust by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust's stock worth $20,568,000 after purchasing an additional 151,234 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Service Properties Trust by 2.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 211,100 shares of the real estate investment trust's stock worth $963,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Service Properties Trust in the third quarter valued at approximately $71,000. Institutional investors and hedge funds 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.