Seven Hills Realty Trust
NASDAQ:SEVN
Seven Hills Realty Trust
Seven Hills Realty Trust is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. The company is headquartered in Newton, Massachusetts. The company went IPO on 2007-05-25. The firm's investment objective is to balance capital preservation with generating risk adjusted returns. The company focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. The firm invests in first mortgage loans, which has principal balances of approximately $15 million to $60 million. The firm has approximately $32 billion in assets under management (AUM). The company operates approximately 30 offices in the United States. Tremont Realty Capital is the investment manager of the Company.
Seven Hills Realty Trust is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. The company is headquartered in Newton, Massachusetts. The company went IPO on 2007-05-25. The firm's investment objective is to balance capital preservation with generating risk adjusted returns. The company focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. The firm invests in first mortgage loans, which has principal balances of approximately $15 million to $60 million. The firm has approximately $32 billion in assets under management (AUM). The company operates approximately 30 offices in the United States. Tremont Realty Capital is the investment manager of the Company.
Distributable Earnings: Seven Hills reported third quarter distributable earnings of $4.2 million or $0.29 per share, which was at the high end of guidance and in line with consensus estimates.
Dividend: The Board declared a regular quarterly dividend of $0.28 per share, equating to an 11% annualized yield based on the prior day's closing price.
Portfolio Performance: All loans are current on debt service with no nonaccrual balances, and the average risk rating remains stable at 2.9.
Lending Activity: The company closed a $34.5 million Manhattan mixed-use loan and expects to close a $37.3 million student housing loan soon. Portfolio growth for the full year is projected at about $100 million net.
Market Outlook: Management sees increasing borrower activity as rates fall, with active SOFR floors now providing earnings protection. Most repayments are expected in 2026.
Guidance: Fourth quarter distributable earnings are expected to be in the range of $0.29 to $0.31 per share.
