Service Properties Trust (NASDAQ:SVC) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Service Properties Trust (NASDAQ:SVC) from an underweight rating to an overweight rating in a report published on Wednesday, MarketBeat.com reports. The firm currently has $4.00 price target on the real estate investment trust’s stock, up from their prior price target of $2.50.

Service Properties Trust Stock Up 20.1 %

NASDAQ:SVC opened at $2.99 on Wednesday. The stock has a market capitalization of $498.24 million, a price-to-earnings ratio of -2.03 and a beta of 2.20. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 52 week low of $2.29 and a 52 week high of $6.85. The stock’s fifty day moving average is $2.71 and its two-hundred day moving average is $3.22.

Service Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, January 27th. Service Properties Trust’s payout ratio is currently -2.40%.

Institutional Trading of Service Properties Trust

Hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its stake in shares of Service Properties Trust by 87.1% in the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 4,942 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Service Properties Trust in the fourth quarter valued at $33,000. Cibc World Markets Corp acquired a new stake in Service Properties Trust in the fourth quarter valued at $39,000. Corient Private Wealth LLC acquired a new stake in Service Properties Trust in the fourth quarter valued at $41,000. Finally, Boothbay Fund Management LLC acquired a new stake in Service Properties Trust in the fourth quarter valued at $48,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.

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.