Service Properties Trust
Owns service-focused retail net lease properties and hotels under external management.
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Profile
Owns service-focused retail net lease properties and hotels, with rental income from tenants and operating revenue from lodging assets. An external manager, The RMR Group, runs day-to-day operations, while the portfolio is being rebalanced away from hotels toward net lease real estate.
Owns two real estate buckets: service-focused retail net lease properties and hotels. Net lease assets include travel centers, restaurants, health and fitness, grocery, medical and dental, and automotive service properties; hotel brands include Sonesta, Hyatt, Radisson, and IHG-related flags.
Concentrates most assets in the United States, with hotel exposure extending to Canada and Puerto Rico. The current portfolio work is selling hotels and adding net lease properties, shifting the asset base from lodging toward service-oriented retail real estate.
Operates without employees through The RMR Group, which handles day-to-day management and investment activity. The business depends on tenant rent collections, hotel managers such as Sonesta, travel-center leases, and access to refinancing and asset-sale proceeds.
Company facts
Key statistics
Year to date −17.2% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| May 8, 2026 | Odeon Capital Group LLC | Target | $3.50 | ||
| Sep 10, 2025 | Wells Fargo | Downgrade | Overweight | Equal Weight | |
| Mar 19, 2025 | Wells Fargo | Upgrade | Underweight | Overweight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.19 | −$0.18 | +5.2% | $405.3M | $421.0M | +3.9% | +7.23% |
| May 6, 2026Q1 FY26 | −$1.83 | $0.20 | +111.0% | $347.8M | $364.5M | +4.8% | −2.53% |
| Feb 25, 2026Q4 FY25 | $0.01 | $0.17 | +1,600.0% | $394.3M | $397.5M | +0.8% | +7.24% |
| Nov 6, 2025Q3 FY25 | −$0.25 | $0.20 | +181.6% | $481.1M | $478.8M | −0.5% | −2.44% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $435.2M | $503.4M | $478.8M | $397.5M | $362.2M | $421.0M | |
| Gross profit | $123.7M | $169.1M | $145.2M | $128.7M | −$38.3M | $150.3M | |
| Operating income | $25.1M | $83.8M | $59.7M | $42.5M | $29.7M | $62.1M | |
| Net income | −$116.4M | −$38.2M | −$46.9M | −$782.0K | −$151.2M | −$223.8M | |
| Diluted EPS | −$3.50 | −$1.15 | −$1.40 | −$0.02 | −$4.55 | −$1.75 | |
| Gross margin | 28.4% | 33.6% | 30.3% | 32.4% | -10.6% | 35.7% | |
| Operating margin | 5.8% | 16.7% | 12.5% | 10.7% | 8.2% | 14.8% |
Fiscal years (4-quarter sums)FY21 $1.50B · FY22 $1.86B · FY23 $1.87B · FY24 $1.90B · FY25 $1.81B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $5.5M · Total debt $4.58B · Total assets $5.84B · Shareholders' equity $806.5M
Dividends
Last cut to $0.01 from $0.20 in Oct 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 20, 2026 | Jul 20 | Aug 13 | $0.05 | |
| Apr 21, 2026 | Apr 21 | May 14 | $0.01 | |
| Jan 26, 2026 | Jan 26 | Feb 19 | $0.01 | |
| Oct 27, 2025 | Oct 27 | Nov 13 | $0.01 | |
| Jul 21, 2025 | Jul 21 | Aug 14 | $0.01 | |
| Apr 22, 2025 | Apr 22 | May 15 | $0.01 | |
| Jan 27, 2025 | Jan 27 | Feb 20 | $0.01 | |
| Oct 28, 2024 | Oct 28 | Nov 14 | $0.01 | cut from $0.20 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 33.23M · Float 26.87M · 80.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Charles Schwab Investment Management Inc | 14.97M | 8.91% | 13G | Aug 12, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Realty Income
Large-scale net-lease capital for service-oriented retail real estate
- Apple Hospitality REIT
Rooms-focused hotel REIT with Marriott, Hilton, and Hyatt exposure
- NNN REIT
Single-tenant net-lease peer in automotive, convenience, and restaurants
- RLJ
Urban-focused lodging REIT with rooms-oriented premium-brand hotels
- Agree Realty
Retail net-lease acquirer across grocery, auto, convenience, and QSR
- Getty Realty
Convenience and automotive net-lease peer tied to mobility sites
- Host Hotels & Resorts
Largest lodging REIT competing for upscale hotel assets and capital
- Essential Properties Realty Trust
Middle-market net-lease sale-leaseback peer in service businesses
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Service Properties Trust | $7.87 | 0.00% | $261.5M | — | — | 0.2 | −16.4% |
| Realty Income | $62.13 | +0.22% | $57.80B | 45.2 | 38.4 | 9.7 | +1.1% |
| Apple Hospitality REIT | $16.68 | +0.72% | $3.91B | 22.4 | 23.2 | 2.7 | +4.7% |
| NNN REIT | $45.67 | −0.01% | $8.69B | 22.4 | 21.9 | 9.1 | +7.0% |
| RLJ | $11.46 | +0.04% | $1.74B | 280.2 | 250.7 | 1.3 | +5.5% |
| Agree Realty | $73.20 | −0.05% | $8.79B | 39.4 | 37.7 | 11.3 | +16.9% |
| Getty Realty | $32.87 | −0.03% | $2.04B | 19.8 | 23.7 | 8.7 | +7.8% |
| Host Hotels & Resorts | $22.40 | +0.63% | $15.26B | 15.2 | 22.3 | 2.5 | +3.4% |
| Essential Properties Realty Trust | $30.37 | −0.03% | $6.57B | 23.5 | 23.0 | 9.9 | +10.3% |
| Median | 23.0 | 23.5 | 8.9 | +6.2% |