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Investing.com -- Seven Hills Realty Trust (NASDAQ:SEVN) stock fell 2.9% in pre-market trading Thursday after the company announced a reduction in its quarterly cash distribution.
The Newton, Massachusetts-based real estate investment trust cut its quarterly dividend to $0.28 per share from $0.35 previously, representing a 20% decrease. The new annual distribution rate will be $1.12 per share, down from $1.40.
According to the company, the dividend reduction reflects management’s expectation that loan repayment proceeds will be redeployed at lower net interest margins amid a declining SOFR curve, which would reduce distributable earnings over the balance of the year.
"We believe the reduced rate better aligns with our anticipated earnings while continuing to deliver an attractive yield for our shareholders," said Tom Lorenzini, President and Chief Investment Officer of SEVN. "This decision does not reflect any deterioration in our loan portfolio. All loans remain fully performing, and we continue to actively originate new investments supported by a robust pipeline."
The reduced distribution will be paid on August 14, 2025, to shareholders of record as of July 21, 2025.
Management plans to provide further details about the dividend cut during its second quarter 2025 conference call scheduled for Tuesday, July 29, 2025.
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