Service Properties Trust (NASDAQ:SVC) Given New $2.00 Price Target at Wells Fargo & Company

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

Several other equities analysts have also recently issued reports on SVC. Zacks Research raised Service Properties Trust from a “hold” rating to a “strong-buy” rating in a 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 reissued a “neutral” rating and issued a $3.00 price target (up from $2.00) on shares of Service Properties Trust in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.50.

Service Properties Trust Price Performance

Shares of SVC opened at $2.09 on Thursday. The company has a debt-to-equity ratio of 5.68, a quick ratio of 0.17 and a current ratio of 0.17. The company has a 50 day moving average price of $1.87 and a 200-day moving average price of $2.32. Service Properties Trust has a fifty-two week low of $1.55 and a fifty-two week high of $3.08. The stock has a market capitalization of $351.31 million, a PE ratio of -1.25 and a beta of 1.47.

Service Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, January 26th will be issued a $0.01 dividend. The ex-dividend date is Monday, January 26th. This represents a $0.04 dividend on an annualized basis and a yield of 1.9%. Service Properties Trust’s dividend payout ratio is currently -2.40%.

Hedge Funds Weigh In On Service Properties Trust

Several large investors have recently made changes to their positions in the stock. Caxton Associates LLP purchased a new stake in shares of Service Properties Trust during the third quarter worth $33,000. Savant Capital LLC purchased a new position in Service Properties Trust in the third quarter valued at $37,000. BNP Paribas Financial Markets grew its stake in Service Properties Trust by 54.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 14,470 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 5,099 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Service Properties Trust during the 3rd quarter worth about $45,000. Finally, Quadrature Capital Ltd increased its holdings in Service Properties Trust by 45.3% during the 2nd quarter. Quadrature Capital Ltd now owns 17,911 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 5,588 shares during the period. 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 (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.