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

Service Properties Trust (NASDAQ:SVC) had its price objective cut by equities research analysts at 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. Wells Fargo & Company‘s price target suggests a potential downside of 1.96% from the company’s previous close.

A number of other research firms also recently commented on SVC. Zacks Research raised Service Properties Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. B. Riley reissued a “neutral” rating and issued a $3.00 target price (up from $2.00) on shares of Service Properties Trust in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Service Properties Trust in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.50.

Service Properties Trust Trading Down 2.4%

Shares of SVC stock opened at $2.04 on Thursday. The stock has a market cap 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 company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 5.68. The stock has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $2.31.

Institutional Trading of Service Properties Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Service Properties Trust by 54.4% in the second 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 period. Public Employees Retirement System of Ohio grew its holdings in Service Properties Trust by 2.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 261,809 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 5,457 shares during the last quarter. Quadrature Capital Ltd increased its position in 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 acquiring an additional 5,588 shares during the period. Metis Global Partners LLC raised its stake in shares of Service Properties Trust by 30.0% during the second quarter. Metis Global Partners LLC now owns 27,466 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 6,343 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Service Properties Trust by 40.2% during the second quarter. Cerity Partners LLC now owns 29,838 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 8,554 shares during the last quarter. 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 (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.