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

Seven Hills Realty Trust (NASDAQ:SEVN) posted its quarterly earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02), FiscalAI reports. The business had revenue of $8.13 million during the quarter, compared to the consensus estimate of $8.76 million.

Seven Hills Realty Trust Trading Up 0.5%

Shares of NASDAQ SEVN traded up $0.04 during mid-day trading on Tuesday, reaching $8.04. The company had a trading volume of 183,105 shares, compared to its average volume of 119,473. The firm has a 50 day simple moving average of $8.38 and a two-hundred day simple moving average of $8.47. Seven Hills Realty Trust has a 52-week low of $7.78 and a 52-week high of $11.15.

Seven Hills Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, July 20th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date of this dividend is Monday, July 20th. Seven Hills Realty Trust’s dividend payout ratio (DPR) is 76.78%.

Institutional Investors Weigh In On Seven Hills Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Seven Hills Realty Trust by 30.2% during the third quarter. JPMorgan Chase & Co. now owns 20,607 shares of the company’s stock worth $212,000 after purchasing an additional 4,778 shares during the last quarter. Invesco Ltd. increased its position in shares of Seven Hills Realty Trust by 47.6% during the fourth quarter. Invesco Ltd. now owns 22,948 shares of the company’s stock worth $204,000 after purchasing an additional 7,399 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Seven Hills Realty Trust in the 4th quarter valued at about $171,000. Bank of America Corp DE lifted its holdings in shares of Seven Hills Realty Trust by 125.3% in the 3rd quarter. Bank of America Corp DE now owns 12,851 shares of the company’s stock valued at $132,000 after purchasing an additional 7,148 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Seven Hills Realty Trust in the 4th quarter valued at about $123,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SEVN shares. Zacks Research raised Seven Hills Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group initiated coverage on Seven Hills Realty Trust in a research report on Tuesday, June 2nd. They set a “buy” rating and a $10.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seven Hills Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $10.38.

About Seven Hills Realty Trust

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.