JonesTrading Cuts Seven Hills Realty Trust (NASDAQ:SEVN) Price Target to $10.00

Seven Hills Realty Trust (NASDAQ:SEVN) had its price objective trimmed by JonesTrading from $12.50 to $10.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SEVN has been the topic of a number of other reports. LADENBURG THALM/SH SH began coverage on Seven Hills Realty Trust in a research report on Wednesday, January 7th. They set a “buy” rating and a $10.00 price objective on the stock. Citigroup reaffirmed an “outperform” rating on shares of Seven Hills Realty Trust in a report on Tuesday, December 16th. Zacks Research raised shares of Seven Hills Realty Trust to a “hold” rating in a research note on Friday, January 9th. Finally, Citizens Jmp decreased their price objective on shares of Seven Hills Realty Trust from $12.50 to $11.50 and set a “market outperform” rating on the stock in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Seven Hills Realty Trust Stock Down 1.5%

Shares of SEVN opened at $8.59 on Thursday. Seven Hills Realty Trust has a 1-year low of $8.30 and a 1-year high of $13.34. The firm’s 50-day moving average price is $8.91 and its 200-day moving average price is $9.61.

Seven Hills Realty Trust (NASDAQ:SEVN) last announced its earnings results on Wednesday, February 18th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $7.30 million during the quarter, compared to the consensus estimate of $7.34 million.

Seven Hills Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Monday, January 26th were given a dividend of $0.28 per share. The ex-dividend date was Monday, January 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.0%. Seven Hills Realty Trust’s dividend payout ratio is currently 81.58%.

Insider Buying and Selling at Seven Hills Realty Trust

In related news, major shareholder Tremont Realty Capital Llc acquired 2,015,748 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of $8.65 per share, with a total value of $17,436,220.20. Following the acquisition, the insider directly owned 4,577,835 shares of the company’s stock, valued at approximately $39,598,272.75. This trade represents a 78.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Adam D. Portnoy acquired 2,015,748 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $8.65 per share, with a total value of $17,436,220.20. Following the transaction, the director owned 4,577,835 shares of the company’s stock, valued at approximately $39,598,272.75. This represents a 78.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Seven Hills Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEVN. Royal Bank of Canada lifted its holdings in shares of Seven Hills Realty Trust by 4.9% in the 1st quarter. Royal Bank of Canada now owns 19,397 shares of the company’s stock valued at $242,000 after acquiring an additional 900 shares during the last quarter. BNP Paribas Financial Markets raised its position in Seven Hills Realty Trust by 72.2% during the third quarter. BNP Paribas Financial Markets now owns 2,993 shares of the company’s stock valued at $31,000 after purchasing an additional 1,255 shares during the period. Strs Ohio lifted its stake in shares of Seven Hills Realty Trust by 62.5% in the 4th quarter. Strs Ohio now owns 3,900 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Seven Hills Realty Trust by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 88,654 shares of the company’s stock worth $1,070,000 after purchasing an additional 2,590 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Seven Hills Realty Trust during the 2nd quarter valued at approximately $35,000.

Seven Hills Realty Trust Company Profile

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.