Seven Hills Realty Trust Stock Price, News & Analysis

Seven Hills Realty Trust (SEVN) has elected Ann M. Danner as an Independent Trustee to its Board of Trustees, effective immediately. This appointment expands the board to seven members, with 71% being independent trustees. Danner, who founded RHA Advisors in 2018, brings over 40 years of real estate industry experience, particularly in residential and multifamily development. She previously served as CEO of Residential Homes of America, Inc., which she founded in 1986. The appointment aims to leverage her expertise in creating value for SEVN's shareholders. Korn Ferry assisted in the trustee placement process.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $42.0 million first mortgage floating rate bridge loan to refinance The Domain at Oxford, a 642-bed student housing property near the University of Mississippi. The loan has a three-year initial term with two one-year extension options, contingent on the borrower meeting specific requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by Newmark, which advised the sponsor, Shore to Shore Properties. Tom Lorenzini, President and Chief Investment Officer of SEVN, highlighted the growing demand for quality student housing due to rising enrollment at the university, emphasizing the loan's potential to generate attractive risk-adjusted returns for shareholders.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced its financial results for Q3 2024 and the nine months ended September 30, 2024. The company will host a conference call to discuss these results on Tuesday, October 29, 2024, at 11:00 a.m. Eastern Time. The call will be accessible via telephone at (866) 739-7850 for U.S. callers and (412) 317-6592 for international callers. A replay will be available until November 5, 2024, and a live audio webcast will be accessible on SEVN's website.

Seven Hills Realty Trust (Nasdaq: SEVN) has declared a regular quarterly cash distribution of $0.35 per common share, which equates to an annual distribution of $1.40 per share. This dividend will be paid to shareholders of record as of the close of business on October 28, 2024, with the distribution expected to be made on or about November 14, 2024. This announcement demonstrates SEVN's commitment to providing regular returns to its shareholders through dividend payments.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced its schedule for the third quarter 2024 financial results release and conference call. The company will issue a press release with the results after the Nasdaq closes on Monday, October 28, 2024. A conference call to discuss these results is scheduled for Tuesday, October 29, 2024, at 11:00 a.m. Eastern Time.

The call will be hosted by President and Chief Investment Officer Tom Lorenzini, CFO and Treasurer Fernando Diaz, and VP Jared Lewis. Investors can access the call via phone or a live audio webcast on the company's website. A replay of the call will be available until November 5, 2024, through both phone and web platforms.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $16.0 million first mortgage floating rate bridge loan for the Home2 Suites by Hilton Lake Mary Orlando, a 123-room extended-stay hotel in Lake Mary, Florida. The loan has a three-year initial term with two one-year extension options. This transaction demonstrates SEVN's ability to close deals in a competitive market while diversifying its portfolio with a premium hotel asset.

The property is strategically located within the Lake Mary Wellness and Technology Park, approximately 15 miles north of Downtown Orlando and 30 miles from Disney World. SEVN's manager, Tremont Realty Capital, was introduced to the deal by Highgate, a repeat borrower. SEVN aims to expand its presence across key asset classes and generate attractive risk-adjusted returns for shareholders.

Seven Hills Realty Trust (Nasdaq: SEVN) has announced its financial results for the second quarter and first half of 2024. The detailed results are available on the company's website under the Quarterly Results section. SEVN will host a conference call on Tuesday, July 30, 2024, at 11:00 a.m. Eastern Time to discuss these results. Investors can access the call via phone or listen to a live audio webcast on SEVN's website. A replay of the call will be available until August 6, 2024. The company strictly prohibits any unauthorized transcription, recording, or retransmission of the conference call.

Tremont Realty Capital has closed a $27 million first mortgage loan to refinance a 138,065 square foot industrial property in Wayne, Pennsylvania. The loan, for 400 Devon Park Drive, has a three-year initial term with two one-year extension options. JLL introduced the transaction, advising the joint venture of Mainstreet Capital Partners and Contrarian Capital Management. The RMR Group (Nasdaq: RMR) provided funding.

Tom Lorenzini, Senior VP of Tremont, stated that the company remains active in middle market commercial real estate transactions, having closed over $100 million in loans in 2024. With a strong pipeline, Tremont is positioned to execute quality loan opportunities across various property types.

Seven Hills Realty Trust (Nasdaq: SEVN) has declared a regular quarterly cash dividend of $0.35 per common share, totaling $1.40 annually. The dividend will be paid to shareholders who are on record as of July 22, 2024, with the payment expected around August 15, 2024.

This announcement reflects the company's ongoing commitment to providing returns to its shareholders.