Wells Fargo & Company Lowers Service Properties Trust (NASDAQ:SVC) Price Target to $4.00

Service Properties Trust (NASDAQ:SVC) had its price target decreased by Wells Fargo & Company from $5.00 to $4.00 in a research report report published on Friday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

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

Service Properties Trust Stock Down 3.0 %

SVC stock opened at $4.47 on Friday. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 3.98. The company’s 50-day moving average price is $5.00 and its 200 day moving average price is $5.57. Service Properties Trust has a 52 week low of $4.26 and a 52 week high of $8.72. The company has a market cap of $741.53 million, a P/E ratio of -5.32 and a beta of 2.20.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.94). The firm had revenue of $512.95 million for the quarter, compared to analyst estimates of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, research analysts expect that Service Properties Trust will post 1.21 earnings per share for the current fiscal year.

Service Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 17.90%. The ex-dividend date of this dividend was Monday, July 22nd. Service Properties Trust’s dividend payout ratio is currently -95.24%.

Institutional Investors Weigh In On Service Properties Trust

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Service Properties Trust during the fourth quarter valued at approximately $9,333,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Service Properties Trust by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,087 shares of the real estate investment trust’s stock valued at $23,896,000 after acquiring an additional 91,272 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in Service Properties Trust by 1.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock worth $984,000 after purchasing an additional 2,476 shares during the period. Victory Capital Management Inc. boosted its position in Service Properties Trust by 18.2% during the 4th quarter. Victory Capital Management Inc. now owns 147,590 shares of the real estate investment trust’s stock worth $1,260,000 after purchasing an additional 22,691 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Service Properties Trust by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,570 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 5,948 shares in the last quarter. Hedge funds and other 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.