Wells Fargo & Company Issues Pessimistic Forecast for Service Properties Trust (NASDAQ:SVC) Stock Price

Service Properties Trust (NASDAQ:SVC) had its price objective decreased by Wells Fargo & Company from $2.75 to $2.50 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ:SVC opened at $2.78 on Tuesday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock’s fifty day simple moving average is $2.62 and its two-hundred day simple moving average is $3.49. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $7.73. The stock has a market cap of $463.29 million, a PE ratio of -1.89 and a beta of 2.19.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.44%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.72%.

Hedge Funds Weigh In On Service Properties Trust

Large investors have recently bought and sold shares of the stock. Nantahala Capital Management LLC bought a new stake in shares of Service Properties Trust during the 4th quarter worth $20,553,000. Balyasny Asset Management L.P. bought a new stake in shares of Service Properties Trust during the 4th quarter worth $6,900,000. Jane Street Group LLC raised its stake in shares of Service Properties Trust by 2,999.1% during the 4th quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock worth $6,398,000 after purchasing an additional 2,437,613 shares during the period. Whitebox Advisors LLC raised its stake in shares of Service Properties Trust by 234.8% during the 4th quarter. Whitebox Advisors LLC now owns 2,144,899 shares of the real estate investment trust’s stock worth $5,448,000 after purchasing an additional 1,504,297 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Service Properties Trust during the 4th quarter worth $3,593,000. 77.62% of the stock is currently owned by institutional investors.

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.