Wells Fargo & Company Cuts Service Properties Trust (NASDAQ:SVC) Price Target to $2.00

Service Properties Trust (NASDAQ:SVC) had its price target lowered by Wells Fargo & Company from $2.50 to $2.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

SVC has been the topic of several other reports. Zacks Research upgraded shares of Service Properties Trust from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Service Properties Trust in a research report on Wednesday, October 8th. Finally, B. Riley reiterated a “neutral” rating and set a $3.00 price target (up previously from $2.00) on shares of Service Properties Trust in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Service Properties Trust presently has an average rating of “Hold” and a consensus target price of $2.50.

Service Properties Trust Trading Down 2.4%

Shares of SVC stock opened at $2.04 on Thursday. The firm has a market capitalization of $342.90 million, a P/E ratio of -1.22 and a beta of 1.47. Service Properties Trust has a 1 year low of $1.55 and a 1 year high of $3.08. The firm’s fifty day simple moving average is $1.88 and its 200 day simple moving average is $2.31. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 5.68.

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be paid a $0.01 dividend. The ex-dividend date is Monday, January 26th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.0%. Service Properties Trust’s payout ratio is -2.40%.

Institutional Trading of Service Properties Trust

Large investors have recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in shares of Service Properties Trust in the third quarter valued at $33,000. BNP Paribas Financial Markets boosted its position in 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 valued at $35,000 after buying an additional 5,099 shares during the last quarter. Savant Capital LLC bought a new position in Service Properties Trust in the 3rd quarter valued at $37,000. Quadrature Capital Ltd increased its stake in shares of Service Properties Trust by 45.3% in the 2nd quarter. Quadrature Capital Ltd now owns 17,911 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 5,588 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Service Properties Trust during the fourth quarter worth $45,000. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Company Profile

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.