Principal Financial Group Inc. Decreases Stock Holdings in Service Properties Trust (NASDAQ:SVC)

Principal Financial Group Inc. lowered its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 781,954 shares of the real estate investment trust’s stock after selling 92,607 shares during the quarter. Principal Financial Group Inc.’s holdings in Service Properties Trust were worth $3,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SVC. Choreo LLC bought a new stake in shares of Service Properties Trust in the 2nd quarter valued at approximately $54,000. Texas Permanent School Fund Corp raised its holdings in Service Properties Trust by 25.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 182,043 shares of the real estate investment trust’s stock valued at $936,000 after buying an additional 36,963 shares during the period. Dimensional Fund Advisors LP lifted its position in Service Properties Trust by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock worth $12,522,000 after buying an additional 85,791 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Service Properties Trust by 17.9% during the second quarter. Hsbc Holdings PLC now owns 128,171 shares of the real estate investment trust’s stock worth $654,000 after buying an additional 19,416 shares during the period. Finally, MQS Management LLC purchased a new position in Service Properties Trust during the second quarter worth $89,000. 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 target price on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a report on Monday, December 9th.

Service Properties Trust Trading Down 1.2 %

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

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

Service Properties Trust Cuts Dividend

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

Service Properties Trust 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.