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|Bid||0.00 x 4000|
|Ask||0.00 x 2200|
|Day's Range||6.33 - 6.74|
|52 Week Range||3.59 - 26.28|
|Beta (5Y Monthly)||1.95|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 07, 2020|
|Forward Dividend & Yield||1.10 (16.42%)|
|Ex-Dividend Date||Jul 24, 2020|
|1y Target Est||10.67|
An IHG default on hotel payments in July could lead to the first large opportunity in North America for another brand to take over those properties, all directly a result from the coronavirus pandemic. IHG defaulted on $8.4 million in guaranteed property returns this month across 103 hotels owned by suburban Boston-based Service Properties Trust, […]
Service Properties Trust (Nasdaq: SVC), or SVC, today sent a notice of event of default and termination to InterContinental Hotels Group plc (NYSE: IHG), or IHG, as a result of IHG’s failure to pay SVC approximately $8.4 million of required priority return for the month of July 2020. IHG has 30 days, or until Monday, August 24, 2020, to make the payment plus accrued interest to avoid termination of its operating agreements with SVC. The effective date of the termination set in the notice is November 30, 2020. IHG’s priority return payment of approximately $17.4 million is also due on August 1, 2020 and failure to pay such amounts will be an additional event of default, which would increase the amount IHG is required to pay to avoid termination.
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Service Properties Trust (Nasdaq:SVC) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to SVC’s common shareholders of record as of the close of business on July 27, 2020 and distributed on or about August 20, 2020.
Service Properties Trust (Nasdaq: SVC) today announced that it will issue a press release containing its second quarter 2020 results before the Nasdaq opens on Friday, August 7, 2020. Later that morning, at 10:00 a.m. Eastern Time, President and Chief Executive Officer John Murray, Chief Financial Officer Brian Donley and Chief Investment Officer Todd Hargreaves will host a conference call to discuss these results.
Service Properties Trust (Nasdaq: SVC), or SVC, a Maryland real estate investment trust, or REIT, today announced that it has closed its underwritten public offering of $800 million aggregate principal amount of 7.50% senior unsecured notes due 2025 guaranteed by certain of SVC’s subsidiaries. The Company used the net proceeds from the offering to repay amounts outstanding under its revolving credit facility.
Service Properties Trust (Nasdaq: SVC), or SVC, a Maryland real estate investment trust, or REIT, announced today the pricing terms of its previously announced cash tender offer, or the Offer, to purchase up to $350,000,000, or the Tender Cap, of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No. 44106M AU6), or the Notes. The terms and conditions of the Offer are described in the Offer to Purchase, dated June 2, 2020, or the Offer to Purchase, as amended by the press release, dated June 3, 2020, and as further amended by the press release, dated June 16, 2020.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
Service Properties Trust (Nasdaq: SVC), or SVC, a Maryland real estate investment trust, or REIT, previously announced that it commenced a cash tender offer, or the Offer, to purchase up to $350,000,000, or the Tender Cap, of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No. 44106M AU6), or the Notes. The terms and conditions of the Offer are described in the Offer to Purchase, dated June 2, 2020, or the Offer to Purchase, as amended by the press release, dated June 3, 2020, as further amended by this press release.
Sixth paragraph of release should read: Shareholders ratified the appointment of Ernst & Young LLP as SVC’s independent auditors for the 2020 fiscal year:
|Maintains||Wells Fargo: to Equal-Weight||7/22/2020|
|Maintains||Stifel: to Hold||4/29/2020|
|Maintains||B. Riley FBR: to Buy||3/31/2020|
|Maintains||B. Riley FBR: to Buy||3/16/2020|
|Maintains||B. Riley FBR: to Buy||3/2/2020|
|Maintains||B. Riley FBR: Buy to Buy||8/13/2018|
Sector(s): Real Estate
Industry: REIT—Hotel & Motel
Full Time Employees:
Service Properties Trust is a REIT which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 148 distinct brands across 23 industries. SVC's properties are primarily operated under long-term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), or RMR Inc., an alternative asset management company that is headquartered in Newton, Massachusetts.