Service Properties Trust (NASDAQ:SVC) Price Target Cut to $8.00

Service Properties Trust (NASDAQ:SVC) had its price objective decreased by stock analysts at B. Riley from $9.00 to $8.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price would suggest a potential upside of 71.67% from the company’s current price. B. Riley also issued estimates for Service Properties Trust’s Q3 2024 earnings at $0.40 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $1.21 EPS, Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.26 EPS, FY2025 earnings at $1.35 EPS, Q1 2026 earnings at $0.18 EPS, Q2 2026 earnings at $0.53 EPS and FY2026 earnings at $1.51 EPS.

Service Properties Trust Price Performance

SVC stock traded down $0.12 during trading hours on Friday, hitting $4.66. 1,437,167 shares of the stock traded hands, compared to its average volume of 1,080,621. The stock has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $6.15. Service Properties Trust has a one year low of $4.56 and a one year high of $8.85. The company has a market cap of $772.44 million, a P/E ratio of -5.55 and a beta of 2.21. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 3.58.

Service Properties Trust (NASDAQ:SVC) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 7.29% and a negative return on equity of 11.01%. The firm had revenue of $512.95 million for the quarter, compared to the consensus estimate of $509.33 million. During the same period in the prior year, the business earned $0.58 EPS. Equities analysts forecast that Service Properties Trust will post 1.37 earnings per share for the current year.

Institutional Investors Weigh In On Service Properties Trust

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Service Properties Trust by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock valued at $12,522,000 after purchasing an additional 85,791 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Service Properties Trust by 25.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 182,043 shares of the real estate investment trust’s stock worth $936,000 after acquiring an additional 36,963 shares in the last quarter. Choreo LLC purchased a new stake in Service Properties Trust in the 2nd quarter worth about $54,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Service Properties Trust by 48.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,820 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 12,374 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Service Properties Trust in the 2nd quarter worth about $68,000. 77.62% of the stock is owned by hedge funds and other institutional investors.

Service Properties Trust Company Profile

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.