Wells Fargo & Company Reiterates Equal Weight Rating for Service Properties Trust (NASDAQ:SVC)

Service Properties Trust (NASDAQ:SVC)‘s stock had its “equal weight” rating reiterated by research analysts at Wells Fargo & Company in a research report issued on Wednesday, Marketbeat reports. They currently have a $2.50 price objective on the real estate investment trust’s stock, down from their prior price objective of $3.00. Wells Fargo & Company‘s target price would suggest a potential downside of 14.09% from the stock’s current price.

Separately, Zacks Research lowered shares of Service Properties Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.25.

Service Properties Trust Stock Up 3.6%

Shares of NASDAQ SVC opened at $2.91 on Wednesday. The company has a debt-to-equity ratio of 5.79, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $485.56 million, a P/E ratio of -1.74 and a beta of 1.86. Service Properties Trust has a 1 year low of $1.71 and a 1 year high of $5.00. The firm has a 50-day simple moving average of $2.70 and a two-hundred day simple moving average of $2.45.

Service Properties Trust (NASDAQ:SVC) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Service Properties Trust had a negative net margin of 14.73% and a negative return on equity of 34.61%. The business had revenue of $503.44 million for the quarter, compared to the consensus estimate of $497.53 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of Service Properties Trust by 54.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,470 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 5,099 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Service Properties Trust by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 261,809 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 5,457 shares during the period. Quadrature Capital Ltd lifted its stake in Service Properties Trust by 45.3% during the second quarter. Quadrature Capital Ltd now owns 17,911 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 5,588 shares during the last quarter. Metis Global Partners LLC lifted its stake in Service Properties Trust by 30.0% during the second quarter. Metis Global Partners LLC now owns 27,466 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 6,343 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Service Properties Trust by 40.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,121 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 6,659 shares during the last quarter. 77.62% of the stock is owned by institutional investors and hedge funds.

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.