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

Service Properties Trust (NASDAQ:SVC) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “overweight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $4.00 target price on the real estate investment trust’s stock, up from their prior target price of $2.50. Wells Fargo & Company‘s target price indicates a potential upside of 36.05% from the company’s previous close.

Service Properties Trust Stock Performance

NASDAQ SVC opened at $2.94 on Wednesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $489.91 million, a P/E ratio of -2.00 and a beta of 2.20. Service Properties Trust has a 12-month low of $2.29 and a 12-month high of $6.85. The firm has a 50-day moving average price of $2.72 and a two-hundred day moving average price of $3.22.

Institutional Trading of Service Properties Trust

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its holdings in Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 4,942 shares during the period. Wolverine Trading LLC bought a new stake in Service Properties Trust in the 3rd quarter valued at about $58,000. Walleye Capital LLC bought a new stake in Service Properties Trust in the 3rd quarter valued at about $58,000. Tidal Investments LLC bought a new stake in Service Properties Trust in the 4th quarter valued at about $33,000. Finally, Cibc World Markets Corp bought a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $39,000. 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.