B. Riley Trims Service Properties Trust (NASDAQ:SVC) Target Price to $8.00

Service Properties Trust (NASDAQ:SVC) had its target price decreased by B. Riley from $9.00 to $8.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price target indicates a potential upside of 73.54% from the company’s previous close.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock traded down $0.17 on Friday, reaching $4.61. 740,463 shares of the stock were exchanged, compared to its average volume of 1,075,978. The business has a 50 day moving average price of $5.27 and a two-hundred day moving average price of $6.18. The firm has a market capitalization of $764.15 million, a price-to-earnings ratio of -5.52 and a beta of 2.21. Service Properties Trust has a twelve month low of $4.56 and a twelve month high of $8.85. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 3.58.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.94). The business had revenue of $512.95 million for the quarter, compared to analyst estimates of $509.33 million. Service Properties Trust had a negative net margin of 7.29% and a negative return on equity of 11.01%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Analysts anticipate that Service Properties Trust will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Service Properties Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its position in Service Properties Trust by 137.9% during the first quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 3,436 shares in the last quarter. Choreo LLC acquired a new stake in shares of Service Properties Trust during the 2nd quarter worth approximately $54,000. Sequoia Financial Advisors LLC purchased a new position in shares of Service Properties Trust during the 2nd quarter valued at approximately $68,000. NorthRock Partners LLC purchased a new position in shares of Service Properties Trust during the 1st quarter valued at approximately $75,000. Finally, Metis Global Partners LLC acquired a new position in shares of Service Properties Trust in the 4th quarter valued at $96,000. Institutional investors and hedge funds 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.