Wells Fargo & Company reissued their equal weight rating on shares of Service Properties Trust (NASDAQ:SVC - Free Report) in a research report report published on Wednesday morning, Marketbeat reports. Wells Fargo & Company currently has a $2.50 target price on the real estate investment trust's stock, down from their previous target price of $3.00.
Separately, Zacks Research downgraded Service Properties Trust from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Service Properties Trust currently has a consensus rating of "Reduce" and an average target price of $2.25.
Get Our Latest Analysis on Service Properties Trust
Service Properties Trust Price Performance
Shares of SVC stock traded up $0.04 during trading hours on Wednesday, reaching $2.89. The company's stock had a trading volume of 507,079 shares, compared to its average volume of 1,714,543. The firm's 50 day simple moving average is $2.70 and its 200-day simple moving average is $2.45. The company has a market capitalization of $482.56 million, a price-to-earnings ratio of -1.73 and a beta of 1.86. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $5.00. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79.
Service Properties Trust (NASDAQ:SVC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The firm had revenue of $503.44 million for the quarter, compared to the consensus estimate of $497.53 million. Service Properties Trust had a negative return on equity of 34.61% and a negative net margin of 14.73%.
Service Properties Trust Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Service Properties Trust's dividend payout ratio (DPR) is currently -2.40%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Service Properties Trust by 7.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,127,210 shares of the real estate investment trust's stock worth $21,212,000 after acquiring an additional 572,954 shares in the last quarter. Capital Management Corp VA grew its stake in shares of Service Properties Trust by 27.5% in the 2nd quarter. Capital Management Corp VA now owns 7,225,765 shares of the real estate investment trust's stock valued at $17,270,000 after buying an additional 1,559,600 shares during the period. Goldman Sachs Group Inc. boosted its stake in Service Properties Trust by 114.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,118,530 shares of the real estate investment trust's stock valued at $10,749,000 after purchasing an additional 2,200,754 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Service Properties Trust by 7.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,544,687 shares of the real estate investment trust's stock valued at $6,082,000 after purchasing an additional 184,106 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Service Properties Trust by 279.7% during the 4th quarter. Millennium Management LLC now owns 1,858,949 shares of the real estate investment trust's stock valued at $4,722,000 after purchasing an additional 1,369,306 shares during the last quarter. 77.62% of the stock is owned by institutional investors.
About Service Properties Trust
(
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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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