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

Service Properties Trust (NASDAQ:SVC) had its price target cut by analysts at B. Riley from $9.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price objective would suggest a potential upside of 71.67% from the company’s previous close. 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 Trading Down 2.5 %

SVC stock traded down $0.12 during trading on Friday, reaching $4.66. The company had a trading volume of 1,437,167 shares, compared to its average volume of 1,080,621. Service Properties Trust has a 52 week low of $4.56 and a 52 week high of $8.85. The business has a 50 day moving average of $5.26 and a 200 day moving average of $6.15. 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 debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04.

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 analysts’ consensus estimates 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 business 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 posted $0.58 EPS. As a group, sell-side analysts forecast that Service Properties Trust will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Service Properties Trust

Several institutional investors and hedge funds have recently made changes to their positions in SVC. FinTrust Capital Advisors LLC increased its position in shares of Service Properties Trust by 137.9% during the first quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 3,436 shares in the last quarter. Choreo LLC purchased a new stake in Service Properties Trust in the second quarter worth approximately $54,000. Sequoia Financial Advisors LLC purchased a new stake in Service Properties Trust in the second quarter worth approximately $68,000. NorthRock Partners LLC purchased a new stake in Service Properties Trust in the first quarter worth approximately $75,000. Finally, Metis Global Partners LLC purchased a new stake in Service Properties Trust in the fourth quarter worth approximately $96,000. Institutional investors own 77.62% of the company’s stock.

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.