Profile
Sector:
Real EstateIndustry:
Hotel & MotelCountry:
United StatesIPO:
17 August 1995Website:
http://www.svcreit.comNext earnings report:
07 August 2024Last dividends:
19 January 2024Next dividends:
N/APrice
after hours | Mon, 01 Jul 2024 21:23:45 GMTAnalysts recommendations
Institutional Ownership
SVC Latest News
NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that Jesse Abair has been appointed as Vice President. Mr. Abair is a Vice President of The RMR Group (Nasdaq: RMR), where he leads a team responsible for the sourcing, underwriting, design, entitlement and leasing of all development projects managed by RMR. He has more than 15 years of experience in commercial real estate development. Prior to joining RMR in 2017, Mr. Abair was a partner at a Boston.
Service Properties Trust's first quarter financial results showed a slight uptick in revenue, but a $72 million loss before taxes. The hotel segment is dragging due to declining occupancy rates, while the net lease portion is performing well but not enough to support corporate costs. The company's ability to generate cash flow and sustain its dividend is a primary concern, as operating cash flow dropped below zero in the first quarter.
NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that President and Chief Investment Officer Todd Hargreaves together with Treasurer and Chief Financial Officer Brian Donley will be presenting at Nareit's REITweek 2024 Investor Conference in New York, NY on Wednesday, June 5, 2024 at 10:15 a.m. Eastern Time. A live audio webcast of the presentation will be available in a listen-only mode on the company's website at https://www.svcreit.com/investors/events-a.
NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced the early tender results as of 5:00 p.m. Eastern Time on May 29, 2024, of its previously announced cash tender offer, or the Offer, to purchase any and all of its outstanding $350,000,000 aggregate principal amount of 4.50% Senior Notes due 2025 (CUSIP No. 44106MAT9), or the Notes, and a related consent solicitation, or the Consent Solicitation, for certain proposed amendments to the indenture governing the N.
NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, has announced the pricing of underwritten public offerings totaling $700.0 million of 8.375% Senior Guaranteed Unsecured Notes due 2029 and $500.0 million of 8.875% Senior Guaranteed Unsecured Notes due 2032. Both sets of notes will be guaranteed by specific subsidiaries of SVC. The closing of the offerings is anticipated to take place on June 3, 2024, pending the fulfillment of standard closing conditions.
Service Properties Trust is a hybrid hotel and triple net REIT trading at a deep value multiple of 4.4X forward consensus FFO. Service Properties' interest expense will increase as cheap fixed rate debt matures and gets refinanced. Sonesta International Hotel Corporation is undervalued and underappreciated.
Service Properties Trust (NASDAQ:SVC) Q4 2023 Earnings Conference Call February 29, 2024 11:00 AM ET
Although the revenue and EPS for Service Properties (SVC) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Service Properties (SVC) came out with quarterly funds from operations (FFO) of $0.30 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to FFO of $0.44 per share a year ago.
Hotel REITs have performed well this year, keeping pace with the Dow and outperforming other REIT sectors. Not so with Net Lease REITs. Hotel demand is increasing, with passenger volume slightly above pre-pandemic levels and hotel RevPAR 17% above 2019 levels. Service Properties Trust is a small-cap company with assets split almost equally between hotels and net lease properties.
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What type of business is Service Properties Trust?
Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC's properties are primarily operated under long-term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), or RMR Inc., an alternative asset management company that is headquartered in Newton, Massachusetts.
What sector is Service Properties Trust in?
Service Properties Trust is in the Real Estate sector
What industry is Service Properties Trust in?
Service Properties Trust is in the Hotel & Motel industry
What country is Service Properties Trust from?
Service Properties Trust is headquartered in United States
When did Service Properties Trust go public?
Service Properties Trust initial public offering (IPO) was on 17 August 1995
What is Service Properties Trust website?
https://www.svcreit.com
Is Service Properties Trust in the S&P 500?
No, Service Properties Trust is not included in the S&P 500 index
Is Service Properties Trust in the NASDAQ 100?
No, Service Properties Trust is not included in the NASDAQ 100 index
Is Service Properties Trust in the Dow Jones?
No, Service Properties Trust is not included in the Dow Jones index
When does Service Properties Trust report earnings?
The next expected earnings date for Service Properties Trust is 07 August 2024