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 reports developments for a real estate investment trust that owns service-focused retail net lease properties and hotels. Its updates center on operating and financial results, common-share distributions, portfolio activity in hotel and net lease assets, and capital-structure actions involving common shares, senior notes and debt refinancing.
The trust’s property base spans service-focused retail locations in the United States and hotels in the United States, Puerto Rico and Canada. News also covers management by The RMR Group, shareholder and trustee matters, risk-factor references, and completed asset dispositions that affect its portfolio mix and balance sheet.
Summary not available.
Service Properties Trust (Nasdaq: SVC) announced the rescheduling of its first quarter 2023 financial results release to after the Nasdaq close on May 8, 2023. The conference call will occur on May 9, 2023, at 10:00 a.m. ET, featuring President Todd Hargreaves and CFO Brian Donley. Investors can access the call at (877) 329-3720, or (412) 317-5434 for international participants. A replay will be available until May 16, 2023. Service Properties Trust, a Maryland REIT, manages over $11 billion in assets across hotels and retail properties, owning 238 hotels with over 40,000 rooms and 765 retail properties totaling 13.4 million square feet as of December 31, 2022.
Service Properties Trust (Nasdaq: SVC) announced it will release its Q1 2023 financial results on May 9, 2023, after Nasdaq trading closes. A conference call for discussing these results will be held on May 10, 2023, at 10:00 a.m. ET, hosted by President Todd Hargreaves and CFO Brian Donley. Interested participants can access the call via phone at (877) 329-3720 or (412) 317-5434 for international callers. Access to a live audio webcast will be available on the company's website, and a replay will be accessible until May 17, 2023.
Service Properties Trust is a REIT with over $11 billion in assets, owning 238 hotels and 765 retail properties across the U.S., Puerto Rico, and Canada. The company is managed by The RMR Group (Nasdaq: RMR), which oversees over $37 billion in assets.
Service Properties Trust (Nasdaq: SVC) announced a quarterly cash distribution of $0.20 per common share, equating to $0.80 annually. This distribution is for shareholders on record as of April 24, 2023 and will be paid on or about May 18, 2023.
SVC is a real estate investment trust (REIT) with over $11 billion in assets, primarily in the hotel and retail net lease property sectors. It owns 238 hotels across the U.S., Puerto Rico, and Canada, and 765 retail properties totaling over 13.4 million square feet. SVC is managed by The RMR Group, which has over $37 billion in assets under management.
Service Properties Trust (Nasdaq: SVC) announced it will release its fourth quarter 2022 results on February 28, 2023, after market close. A conference call will be hosted on March 1, 2023, at 10:00 a.m. ET by President Todd Hargreaves and CFO Brian Donley. Call participants can join via (877) 329-3720 in the U.S. or (412) 317-5434 internationally. A replay will be available until March 8, 2023. As of September 30, 2022, SVC owns 242 hotels and 769 retail properties, with over $11 billion invested in total assets. The company is managed by The RMR Group (Nasdaq: RMR).
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 $610.2 million in net lease mortgage notes to refinance its $500 million senior notes due in June 2023. This transaction, secured by 308 retail properties valued at approximately $1 billion with annual rents of $65.3 million, is expected to close on February 10, 2023. The weighted average coupon for the notes is 5.60%. Additionally, SVC plans to redeem its existing senior notes at an expected price of $500 million plus interest by March 8, 2023, funded by the new mortgage notes.
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.