Welcome to our dedicated page for Service Properties Trust news (Ticker: SVC), a resource for investors and traders seeking the latest updates and insights on Service Properties Trust stock.
Service Properties Trust (NASDAQ: SVC) is a real estate investment trust specializing in hotel properties and service-focused retail net lease assets. This page provides investors and stakeholders with centralized access to official announcements, financial updates, and strategic developments.
Track the latest SVC news including earnings reports, property acquisitions, and portfolio updates across its 1,100+ properties. Our curated feed delivers essential information about hotel operations under brands like Sonesta and retail net lease partnerships, managed through the expertise of the RMR Group.
Key updates include quarterly performance metrics, dividend declarations, and market positioning within the hospitality REIT sector. Bookmark this page for real-time insights into SVC's dual strategy of hospitality revenue generation and long-term retail lease stability.
Service Properties Trust (Nasdaq: SVC) announced a regular quarterly cash distribution of $0.20 per common share, amounting to $0.80 per share annually. This dividend will be available to common shareholders of record as of the close of business on July 22, 2024, with payments expected around August 15, 2024.
Service Properties Trust (Nasdaq: SVC) will release its second quarter 2024 financial results on Tuesday, August 6, 2024, after the Nasdaq closes. A conference call to discuss these results is scheduled for Wednesday, August 7, 2024, at 10:00 a.m. Eastern Time. The call will be hosted by President and CIO Todd Hargreaves, CFO and Treasurer Brian Donley, and VP Jesse Abair. Participants in the U.S. and Canada can dial (877) 329-3720, while international participants should dial (412) 317-5434. No passcode is required. A replay will be available until August 14, 2024, by dialing (412) 317-0088 with the passcode 9597794. A live audio webcast will also be available on the company's website, with the archived webcast accessible post-call.
Service Properties Trust (SVC) has appointed Jesse Abair as Vice President. Mr. Abair is also a Vice President at The RMR Group (RMR), where he oversees development projects. He brings over 15 years of experience in commercial real estate development to his new role at SVC. Before joining RMR in 2017, Abair was a partner at a Boston law firm, managing a real estate practice.
Service Properties Trust (Nasdaq: SVC) announced that its President and Chief Investment Officer Todd Hargreaves and Treasurer and Chief Financial Officer Brian Donley will present at Nareit's REITweek 2024 Investor Conference.
The presentation is scheduled for Wednesday, June 5, 2024, at 10:15 a.m. Eastern Time in New York, NY.
The event will be webcast live in listen-only mode on the company's website, and participants are advised to visit the site 15 minutes prior to the start of the presentation.
Service Properties Trust (Nasdaq: SVC) has announced the pricing for its cash tender offer to purchase all of its outstanding $350 million 4.50% Senior Notes due 2025. The offer is detailed in an Offer to Purchase and Consent Solicitation Statement dated May 15, 2024. The total consideration is based on the yield to maturity of the applicable U.S. Treasury Security plus a fixed spread of 35 basis points. The total consideration per $1,000 principal amount is $991.33. The deadline to withdraw tenders has passed, and the settlement date is expected to be June 3, 2024. Citigroup Global Markets Inc. is acting as the dealer manager.
Service Properties Trust (Nasdaq: SVC) announced the early tender results for its $350 million 4.50% Senior Notes due 2025.
As of 5:00 p.m. on May 29, 2024, $271.96 million in principal amount of the Notes were validly tendered and accepted.
Noteholders who tendered their notes by the Early Tender Deadline will receive a total consideration determined by a fixed spread over the yield to maturity of a specified U.S. Treasury security, including an early tender payment of $50 per $1,000 principal amount.
The expected settlement date for tendered notes is June 3, 2024, subject to satisfaction or waiver of all conditions. Additionally, consents were solicited for amendments to the indenture governing the Notes, which SVC intends to effect for any Notes not purchased in the offer.
Service Properties Trust (SVC) has priced underwritten public offerings of $700 million of 8.375% Senior Guaranteed Unsecured Notes due 2029 and $500 million of 8.875% Senior Guaranteed Unsecured Notes due 2032. These notes will be guaranteed by certain subsidiaries and are expected to settle on June 3, 2024, subject to customary closing conditions.
SVC plans to use the proceeds to redeem $800 million of its 7.50% senior unsecured notes due 2025, and to fund the purchase of $350 million of its 4.50% senior unsecured notes due 2025, including any premiums and accrued interest. Any remaining proceeds will be used for general business purposes.
Citigroup, BofA Securities, J.P. Morgan, BMO Capital Markets, Goldman Sachs, Morgan Stanley, PNC Capital Markets, UBS Securities, and Wells Fargo Securities are the joint book-running managers for the offerings.
Service Properties Trust (Nasdaq: SVC) has initiated a cash tender offer to purchase its outstanding $350,000,000 4.50% Senior Notes due 2025. This offer includes a consent solicitation for amendments to the indenture governing these notes. The offer expires on June 13, 2024, with an early tender deadline of May 29, 2024. Holders tendering by the early deadline receive an additional $50 per $1,000 principal amount. The offer is contingent upon the issuance of new senior unsecured notes, generating sufficient proceeds for the repurchase and settlement of the outstanding notes. Settlement dates are June 3, 2024, and June 17, 2024, for early and final tenders, respectively.
Service Properties Trust (Nasdaq: SVC) announced its Q1 2024 financial results, owning over $11 billion in hotels and retail properties. The results can be accessed on SVC's website. The company held a conference call to discuss the results and is managed by The RMR Group. SVC is a real estate investment trust with a strong presence in the US.
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