Service Properties Trust (NASDAQ:SVC) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Service Properties Trust (NASDAQ:SVC) from an underweight rating to an overweight rating in a research note published on Wednesday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $4.00 target price on the real estate investment trust’s stock, up from their prior target price of $2.50.

Service Properties Trust Price Performance

Shares of SVC stock opened at $2.81 on Wednesday. The firm has a market cap of $468.25 million, a price-to-earnings ratio of -1.91 and a beta of 2.20. Service Properties Trust has a 12 month low of $2.29 and a 12 month high of $6.85. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a 50-day moving average price of $2.72 and a 200 day moving average price of $3.21.

Service Properties Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.42%. Service Properties Trust’s payout ratio is -2.40%.

Institutional Investors Weigh In On Service Properties Trust

A number of hedge funds have recently modified their holdings of SVC. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Service Properties Trust during the 4th quarter worth about $626,000. Alpine Global Management LLC bought a new position in shares of Service Properties Trust during the fourth quarter worth about $200,000. Two Sigma Advisers LP raised its position in Service Properties Trust by 805.0% in 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 buying an additional 356,600 shares during the last quarter. Two Sigma Investments LP bought a new stake in Service Properties Trust in the 4th quarter valued at approximately $1,807,000. Finally, Tidal Investments LLC acquired a new position in Service Properties Trust during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.