Flat Footed LLC Takes $700.05 Million Position in Seven Hills Realty Trust $SEVN

Flat Footed LLC purchased a new stake in Seven Hills Realty Trust (NASDAQ:SEVN) in the second quarter, HoldingsChannel reports. The fund purchased 83,043 shares of the company’s stock, valued at approximately $700,052,000. Seven Hills Realty Trust comprises about 0.1% of Flat Footed LLC’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Seven Hills Realty Trust during the first quarter valued at approximately $30,000. BNP Paribas Financial Markets boosted its holdings in shares of Seven Hills Realty Trust by 72.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,993 shares of the company’s stock worth $31,000 after purchasing an additional 1,255 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Seven Hills Realty Trust in the 2nd quarter worth approximately $41,000. Rockefeller Capital Management L.P. bought a new position in shares of Seven Hills Realty Trust during the 4th quarter valued at approximately $37,000. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of Seven Hills Realty Trust by 141.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,971 shares of the company’s stock valued at $62,000 after purchasing an additional 4,084 shares during the last quarter.

Seven Hills Realty Trust Stock Down 0.4%

SEVN opened at $7.73 on Wednesday. The stock’s 50 day moving average price is $8.06 and its 200-day moving average price is $8.29. Seven Hills Realty Trust has a one year low of $7.36 and a one year high of $11.15.

Seven Hills Realty Trust (NASDAQ:SEVN) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $8.13 million during the quarter, compared to analysts’ expectations of $8.76 million.

Seven Hills Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, July 20th were paid a $0.28 dividend. The ex-dividend date was Monday, July 20th. This represents a $1.12 dividend on an annualized basis and a yield of 14.5%. Seven Hills Realty Trust’s dividend payout ratio (DPR) is presently 76.78%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SEVN shares. JonesTrading restated a “buy” rating and issued a $10.00 price target on shares of Seven Hills Realty Trust in a research report on Wednesday, July 29th. UBS Group began coverage on shares of Seven Hills Realty Trust in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Research lowered shares of Seven Hills Realty Trust from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.38.

Seven Hills Realty Trust 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.