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 Maryland real estate investment trust focused on hotels and service-focused retail net lease properties. This news page aggregates company announcements, press releases and related updates so readers can follow how SVC’s portfolio, capital structure and distributions evolve over time.
Recent news emphasizes SVC’s hotel disposition program and balance sheet actions. The trust has entered agreements to sell 113 hotels with 14,803 keys for a combined sales price of approximately $913.3 million, excluding closing costs, and has reported the completion of numerous hotel sales across multiple states through a series of Form 8-K filings and Business Wire releases. SVC has stated that it expects to use proceeds from these sales to repay debt, and has provided unaudited pro forma financial information to show the impact of these significant dispositions.
Investors following SVC news will also see updates on financing and debt management, such as the pricing of zero coupon senior secured notes due 2027, early redemptions of senior unsecured notes, and related changes to its revolving credit facility borrowings. Regular quarterly cash distribution announcements on common shares are another recurring news theme, with the company outlining its distribution rate and explaining that future distributions may be adjusted at the discretion of its Board of Trustees.
In addition, SVC’s news flow includes quarterly earnings announcements and conference call details, along with information about hotel management relationships, including hotels managed by Sonesta International Hotels. Bookmark this page to review SVC’s historical and ongoing news items, from asset sales and capital markets transactions to dividend declarations and operating updates.
BP has announced a $1.3 billion cash acquisition of TravelCenters of America (TA), a significant player in the travel center industry, subject to regulatory and shareholder approvals. The deal is projected to enhance BP's convenience and mobility sector, adding about 280 travel centers across 44 U.S. states. This acquisition is expected to immediately contribute to BP's EBITDA, with projections of reaching around $800 million by 2025. Furthermore, it aims to improve BP’s gross margin in convenience services and expand growth in electric vehicle charging and renewable energy. The acquisition is forecasted to generate over 15% returns and be accretive to free cash flow starting in 2024.
Service Properties Trust (Nasdaq: SVC) has priced
Service Properties Trust (Nasdaq: SVC) has announced the characterization of its dividends for 2022 for income tax reporting. Shareholders should reference IRS Form 1099-DIV for tax purposes. The total dividend allocated for the year is $0.23 per share, with individual payments of $0.01 on four occasions and $0.20 on one occasion. The dividends fall under various classifications, including ordinary income and capital gains. SVC currently manages over $11 billion in hotel and retail-focused net lease properties, showcasing its significant role in the real estate market.
Service Properties Trust (Nasdaq: SVC) has announced a quarterly cash distribution of $0.20 per common share, amounting to $0.80 annually. This distribution is set for shareholders of record as of January 23, 2023, with payment scheduled on or about February 16, 2023. SVC, which manages over $11 billion in assets, primarily in hotels and retail properties, is committed to maintaining its REIT status while navigating various financial factors to determine future distributions.
Service Properties Trust (Nasdaq: SVC) reported a net income of $7.5 million, or $0.05 per share, for Q3 2022, marking a significant turnaround from a net loss of $59.7 million in Q3 2021. Normalized FFO surged 100% to $88.5 million ($0.54/share), with Adjusted EBITDAre increasing 26.3% to $173.5 million. The company experienced a 29.6% rise in comparable RevPAR and a 77.1% jump in hotel EBITDA. With over $750 million in liquidity, SVC raised its quarterly dividend to $0.20 per share, reflecting operational confidence amidst ongoing recovery in business travel and hotel operations.
Service Properties Trust (Nasdaq: SVC) has declared a quarterly cash dividend of
Service Properties Trust (Nasdaq: SVC) will release its third quarter 2022 results on November 3, 2022, after Nasdaq market close. A conference call led by President Todd Hargreaves and CFO Brian Donley is scheduled for November 4, 2022, at 10:00 a.m. ET. The call can be accessed at (877) 329-3720 or (412) 317-5434 for international participants. SVC, a real estate investment trust, has over $11 billion in assets, including 247 hotels and 775 retail properties across the U.S., Puerto Rico, and Canada. More details can be found on their website.
Service Properties Trust (Nasdaq: SVC) has announced an amendment to its revolving credit facility, extending the maturity date to
Service Properties Trust (Nasdaq: SVC) has entered a purchase agreement to sell 16 Marriott-branded hotels for
As of June 30, 2022, SVC manages assets worth over
Service Properties Trust (Nasdaq: SVC) reported a net income of $11.35 million, or $0.07 per share, for Q2 2022, marking a substantial turnaround from a loss of $91.11 million in the same quarter last year. The normalized FFO surged by 238% to $89.16 million ($0.54 per share). Adjusted EBITDAre rose 53% to $181.87 million. Year-to-date, SVC has sold 76 properties for $523.1 million as it adjusts its portfolio. Hotel metrics improved with occupancy at 66.7% and a RevPAR increase of 56.9%. SVC met all financial covenants, enhancing its financial flexibility.
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