Principal Financial Group Inc. Buys 46,417 Shares of Service Properties Trust (NASDAQ:SVC)

Principal Financial Group Inc. increased its stake in Service Properties Trust (NASDAQ:SVC) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 910,440 shares of the real estate investment trust’s stock after purchasing an additional 46,417 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of Service Properties Trust worth $6,173,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Management Corp VA grew its position in shares of Service Properties Trust by 14.8% during the fourth quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock valued at $27,698,000 after purchasing an additional 417,225 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Service Properties Trust by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,798,087 shares of the real estate investment trust’s stock valued at $23,896,000 after buying an additional 91,272 shares during the period. Northern Trust Corp boosted its position in shares of Service Properties Trust by 18.6% during the third quarter. Northern Trust Corp now owns 2,511,244 shares of the real estate investment trust’s stock valued at $19,311,000 after buying an additional 393,555 shares during the period. Norges Bank purchased a new position in shares of Service Properties Trust during the fourth quarter valued at approximately $9,333,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Service Properties Trust by 14.9% during the fourth quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after buying an additional 109,732 shares during the period. 77.62% of the stock is owned by institutional investors.

Service Properties Trust Stock Performance

NASDAQ:SVC traded down $0.03 during mid-day trading on Friday, hitting $5.03. The company’s stock had a trading volume of 129,541 shares, compared to its average volume of 1,013,859. Service Properties Trust has a 1 year low of $4.81 and a 1 year high of $9.39. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $833.77 million, a price-to-earnings ratio of -5.98 and a beta of 2.21. The business’s fifty day moving average is $5.42 and its two-hundred day moving average is $6.68.

Service Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 15.90%. Service Properties Trust’s payout ratio is -95.24%.

Analyst Upgrades and Downgrades

SVC has been the subject of several research analyst reports. B. Riley decreased their price target on shares of Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Wells Fargo & Company decreased their price target on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a research note on Thursday, March 21st.

About Service Properties Trust

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.