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.
Service Properties Trust (Nasdaq: SVC) announced a quarterly cash dividend of $0.01 per common share, totaling $0.04 annually. The dividend will benefit shareholders of record by July 25, 2022 and is scheduled for payment on or about August 18, 2022. The company manages approximately $12 billion in assets, primarily in the hospitality and retail sectors, owning 247 hotels and 775 retail properties across the U.S., Puerto Rico, and Canada.
Service Properties Trust (Nasdaq: SVC) has sold 57 Sonesta branded hotels, totaling 7,272 keys, for $496.4 million.
Six additional hotels are under purchase agreements, expected to close in Q3 2022 for $37.4 million.
Occupancy rates improved in April and May, with significant increases noted in urban and select service hotels.
As of June 30, 2022, SVC owned 247 hotels and 775 retail properties, demonstrating a focused strategy on asset management and portfolio optimization.
Service Properties Trust (Nasdaq: SVC) will release its second quarter 2022 results on August 4, 2022, after Nasdaq closes. A conference call with President Todd Hargreaves and CFO Brian Donley will follow on August 5, 2022, at 10:00 a.m. ET. Interested participants can join via telephone or listen to a live audio webcast on the company's website. SVC is a real estate investment trust, holding approximately $12 billion in assets, which includes 298 hotels and nearly 800 retail properties across North America.
Service Properties Trust (Nasdaq: SVC) held its 2022 Annual Meeting of Shareholders, resulting in the re-election of several trustees.
Service Properties Trust (Nasdaq: SVC) has announced that President Todd Hargreaves and CFO Brian Donley will present at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Conference on June 14, 2022, at 8:15 a.m. ET. The management will also hold virtual meetings with investors. A live audio webcast of the presentation will be available on the company's events page. Service Properties Trust is a REIT with about $12 billion in assets, including 298 hotels and nearly 800 retail properties across North America.
Service Properties Trust (Nasdaq: SVC) announced that President Todd Hargreaves and CFO Brian Donley will present at Nareit’s REITweek: 2022 Investor Conference in New York on June 8, 2022, at 8:00 a.m. Eastern Time. A live audio webcast will be accessible on the company’s website for those wishing to listen. Service Properties Trust is a real estate investment trust with over $12 billion invested in hotels and retail properties, managing 298 hotels and nearly 800 retail properties across the U.S., Puerto Rico, and Canada.
Service Properties Trust (Nasdaq: SVC) announced participation at the 22nd Annual B. Riley Securities Institutional Investor Conference in Los Angeles, CA, on May 25, 2022. President Todd Hargreaves and CFO Brian Donley will meet with investors to discuss SVC's operations and strategies. SVC, a leading real estate investment trust, manages over $12 billion in assets, owning 298 hotels with more than 47,000 guest rooms, and nearly 800 retail properties totaling over 13.5 million square feet across the U.S., Puerto Rico, and Canada.
Service Properties Trust (Nasdaq: SVC) has successfully sold 42 Sonesta branded hotels, totaling 6,348 keys, for nearly $400 million. An additional 22 hotels, comprising 1,781 keys, are under purchase agreements expected to close in Q2 2022 for approximately $141 million. This initiative aims to enhance SVC's lodging portfolio quality and liquidity. However, the company acknowledges risks associated with finalizing these sales at expected prices and timelines.
Service Properties Trust (Nasdaq: SVC) has announced the early redemption of $500 million in outstanding 5.000% Senior Notes due August 2022. The redemption, expected to occur around June 30, 2022, will be funded using the company's cash on hand. SVC, which is a real estate investment trust with over $12 billion in investments, owns 298 hotels and nearly 800 retail properties across the U.S., Puerto Rico, and Canada, managed by The RMR Group.
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