Wells Fargo & Company Has Lowered Expectations for Service Properties Trust (NASDAQ:SVC) Stock Price

Service Properties Trust (NASDAQ:SVC) had its price objective reduced by equities research analysts at Wells Fargo & Company from $2.75 to $2.50 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 2.91% from the stock’s previous close.

Service Properties Trust Stock Down 1.7 %

Shares of SVC traded down $0.05 during trading hours on Tuesday, hitting $2.58. The stock had a trading volume of 37,876 shares, compared to its average volume of 1,526,693. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $7.73. The firm has a market capitalization of $429.12 million, a P/E ratio of -1.75 and a beta of 2.19. The firm has a 50 day simple moving average of $2.63 and a 200-day simple moving average of $3.54. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Two Sigma Advisers LP boosted its stake in Service Properties Trust by 805.0% during the 4th quarter. Two Sigma Advisers LP now owns 400,900 shares of the real estate investment trust’s stock valued at $1,018,000 after purchasing an additional 356,600 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $1,807,000. Tidal Investments LLC purchased a new position in shares of Service Properties Trust during the fourth quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Service Properties Trust during the fourth quarter worth $602,000. Finally, Point72 Asset Management L.P. purchased a new stake in Service Properties Trust in the 4th quarter valued at $223,000. 77.62% of the stock is currently 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.