Seven Hills Realty Trust (NASDAQ:SEVN) Issues Earnings Results

Seven Hills Realty Trust (NASDAQ:SEVN) announced its quarterly earnings results on Wednesday. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01, FiscalAI reports. The company had revenue of $7.30 million for the quarter, compared to the consensus estimate of $7.34 million.

Seven Hills Realty Trust Trading Down 1.0%

SEVN stock traded down $0.09 during trading on Wednesday, hitting $8.65. 129,345 shares of the company traded hands, compared to its average volume of 107,066. Seven Hills Realty Trust has a 1 year low of $8.30 and a 1 year high of $13.44. The company has a 50-day moving average of $8.95 and a 200-day moving average of $9.64.

Seven Hills Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date of this dividend is Monday, January 26th. Seven Hills Realty Trust’s payout ratio is 81.58%.

Insider Buying and Selling

In related news, major shareholder Tremont Realty Capital Llc acquired 2,015,748 shares of the stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of $8.65 per share, for a total transaction of $17,436,220.20. Following the completion of the transaction, the insider owned 4,577,835 shares of the company’s stock, valued at $39,598,272.75. This trade represents a 78.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam D. Portnoy bought 2,015,748 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was purchased at an average price of $8.65 per share, for a total transaction of $17,436,220.20. Following the acquisition, the director directly owned 4,577,835 shares of the company’s stock, valued at approximately $39,598,272.75. The trade was a 78.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Seven Hills Realty Trust

A number of institutional investors have recently modified their holdings of SEVN. Strs Ohio bought a new stake in shares of Seven Hills Realty Trust in the first quarter worth about $30,000. BNP Paribas Financial Markets grew its position in shares of Seven Hills Realty Trust by 72.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,993 shares of the company’s stock worth $31,000 after buying an additional 1,255 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Seven Hills Realty Trust during the second quarter valued at approximately $41,000. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Seven Hills Realty Trust by 141.5% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,971 shares of the company’s stock valued at $62,000 after acquiring an additional 4,084 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Seven Hills Realty Trust in the fourth quarter worth $90,000.

Wall Street Analyst Weigh In

Several brokerages have commented on SEVN. LADENBURG THALM/SH SH initiated coverage on shares of Seven Hills Realty Trust in a report on Wednesday, January 7th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Research raised shares of Seven Hills Realty Trust to a “hold” rating in a report on Friday, January 9th. Citizens Jmp dropped their price objective on shares of Seven Hills Realty Trust from $12.50 to $11.50 and set a “market outperform” rating for the company in a report on Tuesday, December 16th. JonesTrading reissued a “buy” rating and issued a $12.50 target price on shares of Seven Hills Realty Trust in a research note on Tuesday, October 28th. Finally, Citigroup restated an “outperform” rating on shares of Seven Hills Realty Trust in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Seven Hills Realty Trust has an average rating of “Moderate Buy” and an average target price of $11.33.

Seven Hills Realty Trust Company Profile

Seven Hills Realty Trust is a real estate investment trust that focuses on the ownership and operation of grocery-anchored neighborhood and community shopping centers. Established in October 2018 and trading on the NASDAQ under the symbol SEVN, the company targets retail properties that are anchored by essential retailers, including leading grocery chains and national discount operators. Its strategy centers on acquiring assets with strong tenant credit profiles and stable, long-term lease agreements.

The company’s portfolio spans multiple Sun Belt and Southeastern markets, with properties located in states such as Florida, Texas, North Carolina and Georgia.