Seven Hills Realty Trust Stock Price, News & Analysis

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.

Tremont Realty Capital has closed a $40 million first mortgage loan to refinance the SpringHill Suites by Marriott Boston Logan Airport Revere Beach hotel. The hotel, located at 400 Ocean Avenue in Revere, Massachusetts, features 168 rooms and easy access to downtown Boston via the MBTA Wonderland Station. The loan has an initial term of two years, with three one-year extension options, contingent on the borrower meeting certain criteria. The transaction was facilitated by HREC Investment Advisors, with funding from The RMR Group. According to Tom Lorenzini, Senior VP of Tremont Realty Capital, this deal underscores Tremont's capacity to secure financing in a challenging market and hints at a robust investment pipeline for 2024.

Seven Hills Realty Trust (Nasdaq: SEVN) has closed a $23.8 million first mortgage floating rate loan to recapitalize a newly constructed, 80,000 square foot self-storage facility at 2515 S Broadway, Los Angeles, CA. The Extra Space Storage branded property is situated near the University of Southern California's main campus. The loan has a three-year initial term with two one-year extension options, subject to meeting certain requirements. SEVN’s manager, Tremont Realty Capital, facilitated the transaction through JLL, advising Staley Point Capital. Tom Lorenzini, SEVN's President and Chief Investment Officer, emphasized that this loan expands SEVN’s portfolio into the self-storage sector in a supply-constrained market, aiming to generate attractive, risk-adjusted returns for shareholders.

Seven Hills Realty Trust (Nasdaq: SEVN) will release its second quarter 2024 financial results after the market closes on Monday, July 29, 2024. The following day, July 30, 2024, at 11:00 a.m. ET, President and Chief Investment Officer Tom Lorenzini, CFO Fernando Diaz, and VP Jared Lewis will host a conference call to discuss the results. The call can be accessed by dialing (866) 739-7850 or (412) 317-6592 for international participants. No pass code is required. A replay will be available until August 6, 2024, by dialing (412) 317-0088 with pass code 5505857. A live audio webcast and replay will also be accessible on the company’s website, www.sevnreit.com.

Seven Hills Realty Trust (Nasdaq: SEVN) announced its inclusion in the Russell 3000® Index, effective after market close on June 28, 2024. This addition follows the annual reconstitution of the Russell U.S. Indexes. The preliminary list of additions was posted by FTSE Russell on June 21, 2024. The inclusion is expected to increase visibility and potentially attract more investment, as the Russell 3000® Index represents a broad segment of the U.S. stock market.

Seven Hills Realty Trust (Nasdaq: SEVN) announced that President and Chief Investment Officer Tom Lorenzini, along with Chief Financial Officer and Treasurer Fernando Diaz, will present at Nareit's REITweek 2024 Investor Conference in New York, NY on June 5, 2024, at 11:00 a.m. Eastern Time.

A live audio webcast of the presentation will be available on the company's website in a listen-only mode. Participants are advised to visit the company's website approximately 15 minutes before the presentation starts.

Seven Hills Realty Trust (Nasdaq: SEVN) announced the appointment of Jared Lewis as Vice President. Mr. Lewis also serves as a Vice President at The RMR Group (Nasdaq: RMR) and Tremont Realty Capital. With a career spanning since 2002, Lewis has been instrumental in structuring over $3.4 billion in debt and equity investments. At The RMR Group, he leads a team focused on screening, sizing, and underwriting new commercial real estate mortgage loans.