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

Service Properties Trust (NASDAQ:SVC) was upgraded by stock analysts at Wells Fargo & Company from an “underweight” rating to an “overweight” rating in a report issued on Wednesday,Finviz reports. The firm presently has a $4.00 price target on the real estate investment trust’s stock, up from their previous price target of $2.50. Wells Fargo & Company‘s price objective indicates a potential upside of 60.64% from the stock’s current price.

Service Properties Trust Stock Down 0.8 %

Shares of NASDAQ SVC opened at $2.49 on Wednesday. Service Properties Trust has a 12 month low of $2.29 and a 12 month high of $6.85. 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 firm has a market capitalization of $414.93 million, a price-to-earnings ratio of -1.69 and a beta of 2.20. The business has a 50-day moving average of $2.70 and a 200-day moving average of $3.23.

Institutional Trading of Service Properties Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Service Properties Trust by 87.1% during 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 in the last quarter. Wolverine Trading LLC bought a new stake in Service Properties Trust during the 3rd quarter valued at about $58,000. Walleye Capital LLC bought a new stake in Service Properties Trust during the 3rd quarter valued at about $58,000. Tidal Investments LLC bought a new stake in Service Properties Trust during the 4th quarter valued at about $33,000. Finally, Cibc World Markets Corp bought a new stake in Service Properties Trust during the 4th quarter valued at about $39,000. 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.