Service Properties Trust (NASDAQ:SVC – Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $2.75 to $2.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 2.91% from the stock’s previous close.
Service Properties Trust Stock Performance
Service Properties Trust stock traded down $0.05 during mid-day trading on Tuesday, reaching $2.58. 37,876 shares of the company’s stock were exchanged, compared to its average volume of 1,526,693. The business’s fifty day simple moving average is $2.63 and its 200 day simple moving average is $3.54. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a one year low of $2.29 and a one year high of $7.73. The firm has a market capitalization of $429.12 million, a PE ratio of -1.75 and a beta of 2.19.
Institutional Trading of Service Properties Trust
A number of large investors have recently added to or reduced their stakes in SVC. Two Sigma Advisers LP grew its position in shares of 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 acquiring an additional 356,600 shares during the period. Two Sigma Investments LP purchased a new position in Service Properties Trust in the fourth quarter valued at approximately $1,807,000. Tidal Investments LLC bought a new position in Service Properties Trust during the fourth quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Service Properties Trust in the fourth quarter worth $602,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Service Properties Trust in the fourth quarter valued at $223,000. Hedge funds and other institutional investors 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.
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