Service Properties Trust Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:29 pm EST
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Service Properties Trust reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 101.3 million compared to USD 97.8 million a year ago. Revenue was USD 496.83 million compared to USD 498.25 million a year ago. Net loss was USD 4.13 million compared to net income of USD 7.5 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.05 a year ago.
For the nine months, sales was USD 295.16 million compared to USD 290.95 million a year ago. Revenue was USD 1,429.81 million compared to USD 1,407.79 million a year ago. Net income was USD 10.54 million compared to net loss of USD 100.97 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.61 a year ago.
Service Properties Trust is a real estate investment trust. The Company operates through two segments: hotel investments and net lease investments. It owns a portfolio of hotels and net lease service and necessity-based retail properties. The Company owns over 221 hotels with approximately 37,000 rooms or suites located in over 36 states, in the District of Columbia, Ontario, Canada and San Juan, Puerto Rico. It owns approximately 752 service-oriented retail properties with over 13.3 million square feet located in approximately 42 states. The Companyâs net lease portfolio is occupied by over 175 tenants, which is operating approximately 137 brands in over 21 industries. The Company's net lease portfolio is leased to tenants that include travel centers, quick service and casual dining restaurants, movie theaters, health and fitness centers, grocery stores, automotive parts and services and other businesses in service-oriented and necessity-based industries.
SERVICE PROPERTIES TRUST 
