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The RMR Group Inc. (NASDAQ: RMR) operates as a holding company conducting its business through its subsidiary, The RMR Group LLC. Founded in 1986, The RMR Group is a renowned alternative asset management company primarily focusing on real estate and related businesses. As of December 31, 2016, the company managed approximately $27.2 billion in total assets, including over 1,400 properties, and employed more than 450 real estate professionals across more than 30 offices throughout the United States. Collectively, the companies managed by The RMR Group LLC had over 53,000 employees.
Core Business
The RMR Group provides comprehensive management services to four publicly traded real estate investment trusts (REITs), three real estate operating companies, one real estate securities mutual fund, and a commercial real estate finance firm. This extensive portfolio showcases the company's depth in managing diverse real estate assets.
Key Operations
The company's operations are segmented into RMR LLC and All Other Operations. Its revenue streams primarily include business and property management services, along with advisory and other related services.
Recent Achievements and Current Projects
- Service Properties Trust: Consistent performance and expansion in hospitality and net lease real estate sectors.
- Office Properties Income Trust: Focused on acquiring, owning, and leasing office spaces, catering to top-tier clients.
- Diversified Healthcare Trust: Specializing in the acquisition and management of healthcare-related properties, ensuring robust healthcare infrastructure.
Partnerships and Financial Condition
The RMR Group has built strategic partnerships with multiple stakeholders in the real estate sector, enhancing its capability to deliver superior management services. Its substantial asset base and diversified revenue streams underline the company's strong financial position.
For more information on The RMR Group, please visit www.rmrgroup.com.
Office Properties Income Trust (OPI) has announced a regular quarterly cash distribution on its common shares. The distribution amount is set at $0.01 per common share, which equates to $0.04 per share annually. This dividend will be paid to OPI's common shareholders who are on record as of the close of business on October 28, 2024. The distribution is scheduled to be distributed on or about November 14, 2024.
Industrial Logistics Properties Trust (ILPT) has declared a quarterly cash dividend of $0.01 per common share, which equates to an annual distribution of $0.04 per share. This dividend will be paid to shareholders of record as of the close of business on October 28, 2024, with the distribution scheduled for November 14, 2024. ILPT, traded on the Nasdaq under the ticker symbol ILPT, made this announcement as part of its regular dividend policy.
Service Properties Trust (SVC) has announced significant actions to improve liquidity and reduce leverage. The company's Board of Trustees has reduced the quarterly cash distribution on common shares from $0.20 to $0.01 per share, resulting in annual savings of $127 million. Additionally, SVC plans to sell 114 focused service hotels managed by Sonesta International Hotels in 2025, with an aggregate net carrying value of $850.0 million.
The sale is expected to generate savings of approximately $725 million in capital expenditures over a six-year period. After the disposition, Sonesta will continue to manage 59 hotels owned by SVC, including 39 full service, 14 extended stay, and 6 select service properties. These actions are intended to increase liquidity, enhance financial flexibility, reduce leverage, and improve portfolio performance for SVC's hotel portfolio in the long term.
The RMR Group (Nasdaq: RMR) has announced its fiscal fourth quarter 2024 financial results release schedule. The company will issue a press release after the Nasdaq closes on Tuesday, November 12, 2024. A conference call to discuss these results is scheduled for Wednesday, November 13, 2024, at 10:00 a.m. Eastern Time.
The call will be hosted by President and CEO Adam Portnoy and CFO Matt Jordan. Participants can dial (844) 481-2945 from the US and Canada, or (412) 317-1868 from other countries. No pass code is required. A replay will be available until November 20, 2024, at (877) 344-7529 with pass code 4257057.
Additionally, a live audio webcast will be accessible on the company's website at www.rmrgroup.com, with an archived version available for replay after the call.
Service Properties Trust (Nasdaq: SVC) has announced its upcoming third quarter 2024 financial results release and conference call schedule. The company will issue a press release with Q3 2024 results after the Nasdaq closes on Wednesday, November 6, 2024. A conference call to discuss these results is scheduled for Thursday, November 7, 2024, at 10:00 a.m. Eastern Time.
The call will be hosted by President and Chief Investment Officer Todd Hargreaves, CFO and Treasurer Brian Donley, and Vice President Jesse Abair. Investors can access the call via phone or a live audio webcast on the company's website. A replay of the call will be available until November 14, 2024, and the webcast will be archived on SVC's website for later access.
Diversified Healthcare Trust (Nasdaq: DHC) has announced its upcoming third quarter 2024 financial results release and conference call schedule. The company will issue a press release with the financial results after the Nasdaq closes on Monday, November 4, 2024. A conference call to discuss these results is scheduled for Tuesday, November 5, 2024, at 10:00 a.m. Eastern Time.
The call will be hosted by President and CEO Christopher Bilotto and CFO and Treasurer Matt Brown. Investors can access the call via phone or through a live audio webcast on the company's website. A replay of the conference call will be available until November 12, 2024, and the webcast will be archived on DHC's website for later access.
Office Properties Income Trust (Nasdaq: OPI) has announced its schedule for the Third Quarter 2024 Conference Call. The company will release its financial results after the Nasdaq closes on Wednesday, October 30, 2024. The conference call is set for Thursday, October 31, 2024, at 10:00 a.m. Eastern Time.
President and COO Yael Duffy and CFO Brian Donley will host the call. Participants can dial (877) 328-1172 from the US and Canada, or (412) 317-5418 from other locations. No pass code is required. A replay will be available until November 7, 2024, at (877) 344-7529 with pass code 2324173. A live audio webcast will also be accessible on the company's website at www.opireit.com.
Industrial Logistics Properties Trust (Nasdaq: ILPT) has announced its schedule for the third quarter 2024 financial results release and conference call. The company will issue a press release with its Q3 2024 financial results after the Nasdaq closes on Tuesday, October 29, 2024. A conference call to discuss these results will be held on Wednesday, October 30, 2024, at 10:00 a.m. Eastern Time.
The call will be hosted by President and COO Yael Duffy, CFO and Treasurer Tiffany Sy, and VP Marc Krohn. Investors can dial (877) 418-4826 from the US and Canada, or (412) 902-6758 from other countries to participate. No pass code is required. A replay will be available until November 6, 2024, at (877) 344-7529 with the pass code 4340081. Additionally, a live audio webcast will be accessible on the company's website at www.ilptreit.com.
Seven Hills Realty Trust (Nasdaq: SEVN) has announced its schedule for the third quarter 2024 financial results release and conference call. The company will issue a press release with the results after the Nasdaq closes on Monday, October 28, 2024. A conference call to discuss these results is scheduled for Tuesday, October 29, 2024, at 11:00 a.m. Eastern Time.
The call will be hosted by President and Chief Investment Officer Tom Lorenzini, CFO and Treasurer Fernando Diaz, and VP Jared Lewis. Investors can access the call via phone or a live audio webcast on the company's website. A replay of the call will be available until November 5, 2024, through both phone and web platforms.
Diversified Healthcare Trust (Nasdaq: DHC) has announced a $135 million sale of 18 triple net leased senior living communities to Brookdale Senior Living Inc. (NYSE: BKD). The properties, comprising 876 units across 10 states, have been leased and operated by Brookdale since 2003. The sale price equates to $154,000 per unit, reflecting a 7.3% in-place cap rate on the lease's annualized income.
DHC plans to use the proceeds to pay down its $941 million senior secured notes due January 2026. The transaction, expected to close in Q4 2024, is part of DHC's strategy to optimize its portfolio and enhance liquidity. The communities primarily serve assisted living and memory care residents, with properties located in Arizona, Colorado, Florida, Indiana, Michigan, Minnesota, North Carolina, Pennsylvania, South Carolina, and Tennessee.
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