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

Principal Financial Group Inc. decreased its stake in Service Properties Trust (NASDAQ:SVC) by 10.6% in the third quarter, Holdings Channel.com reports. The firm owned 781,954 shares of the real estate investment trust’s stock after selling 92,607 shares during the period. Principal Financial Group Inc.’s holdings in Service Properties Trust were worth $3,566,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Xponance Inc. bought a new stake in Service Properties Trust in the second quarter worth $53,000. Choreo LLC purchased a new position in shares of Service Properties Trust during the 2nd quarter worth about $54,000. Sequoia Financial Advisors LLC bought a new position in Service Properties Trust during the 2nd quarter valued at about $68,000. Family Wealth Partners LLC bought a new stake in Service Properties Trust in the third quarter worth about $69,000. Finally, EntryPoint Capital LLC lifted its stake in Service Properties Trust by 143.5% in the first quarter. EntryPoint Capital LLC now owns 15,413 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 9,082 shares during the last quarter. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of SVC stock opened at $2.72 on Friday. The stock has a market capitalization of $453.15 million, a price-to-earnings ratio of -1.85 and a beta of 2.23. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a twelve month low of $2.47 and a twelve month high of $8.72. The stock has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $4.74.

Service Properties Trust (NASDAQ:SVC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). The business had revenue of $491.17 million for the quarter, compared to the consensus estimate 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 company earned $0.56 earnings per share. On average, analysts predict that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is currently -2.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, September 13th. B. Riley cut their price target on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

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.