The following is a summary of the Seven Hills Realty Trust (SEVN) Q1 2024 Earnings Call Transcript:
Financial Performance:
Seven Hills Realty Trust reported Q1 distributable earnings per share of $0.38, exceeding their quarterly dividend of $0.35 per share by 9%.
Total commitments of nearly $630 million were reported in their loan book, demonstrating the sponsors' ability to execute business plans, with over $40 million in loan payoffs received during this period.
Business Progress:
The company maintains a well-diversified, 100% invested loan book of floating-rate loans, with the largest share (35%) in multifamily properties and the balance spread across various sectors.
With substantial liquidity on hand and an average portfolio maturity of 2.8 years, the company is well-positioned to capitalize on future investment opportunities.
Anticipated distributable earnings for the next quarter are expected to be within a range of $0.35 to $0.37 per share, continuing to cover the quarterly dividend.
More details: Seven Hills IR
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