Principal Financial Group Inc. Sells 92,607 Shares of Service Properties Trust (NASDAQ:SVC)

Principal Financial Group Inc. lowered its stake in Service Properties Trust (NASDAQ:SVC) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 781,954 shares of the real estate investment trust’s stock after selling 92,607 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Service Properties Trust worth $3,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Service Properties Trust during the 3rd quarter worth approximately $170,000. Barclays PLC raised its position in shares of Service Properties Trust by 310.6% during the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 212,130 shares during the period. Geode Capital Management LLC raised its position in shares of Service Properties Trust by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust’s stock valued at $20,568,000 after purchasing an additional 151,234 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Service Properties Trust by 2.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 211,100 shares of the real estate investment trust’s stock worth $963,000 after buying an additional 5,400 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Service Properties Trust in the 3rd quarter worth $71,000. 77.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a research report on Monday, December 9th.

Service Properties Trust Trading Down 1.2 %

Service Properties Trust stock opened at $2.51 on Friday. Service Properties Trust has a 1 year low of $2.29 and a 1 year high of $8.56. The firm’s 50 day moving average price is $2.79 and its 200-day moving average price is $4.13. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market cap of $418.29 million, a P/E ratio of -1.71 and a beta of 2.19.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). The company had revenue of $491.17 million during the quarter, compared to the consensus estimate of $497.97 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Service Properties Trust will post 1.13 earnings per share for the current fiscal year.

Service Properties Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.59%. Service Properties Trust’s dividend payout ratio is currently -2.72%.

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.