Service Properties Trust (NASDAQ:SVC) PT Lowered to $4.00

Service Properties Trust (NASDAQ:SVC) had its target price dropped by research analysts at Wells Fargo & Company from $5.00 to $4.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 13.23% from the stock’s previous close.

Separately, B. Riley decreased their price objective on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Service Properties Trust Trading Up 0.2 %

Shares of SVC stock opened at $4.61 on Friday. The business has a 50-day moving average of $5.01 and a 200 day moving average of $5.60. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. Service Properties Trust has a 1-year low of $4.26 and a 1-year high of $8.72. The stock has a market capitalization of $764.75 million, a PE ratio of -5.49 and a beta of 2.20.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. The company had revenue of $512.95 million for the quarter, compared to analysts’ expectations of $509.33 million. During the same period last year, the company posted $0.58 EPS. As a group, sell-side analysts anticipate that Service Properties Trust will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Service Properties Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its holdings in Service Properties Trust by 137.9% in the first quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 3,436 shares in the last quarter. Xponance Inc. bought a new position in shares of Service Properties Trust in the 2nd quarter worth about $53,000. Choreo LLC purchased a new position in Service Properties Trust during the 2nd quarter valued at about $54,000. Sequoia Financial Advisors LLC purchased a new position in Service Properties Trust during the 2nd quarter valued at about $68,000. Finally, NorthRock Partners LLC bought a new stake in Service Properties Trust during the first quarter worth about $75,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

About Service Properties Trust

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.