SVCService Properties Trust
Real Estate Investment Trusts
- Revenue
- $1.4B
- 5.6% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $811M
- Employees
- 900
- $2M revenue each
- Net debt / EBITDA
- —
- $5.5B net debt
- AI in 10-K
- 1.9
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo6% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$2M · 63rd pctBottom quartile of its SIC industry
- Quiet on AINo1.9 per 10K words · 54th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo7.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$811M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingNo$50M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.5B | $1.5B | $1.5B | $1.4B | 5.6% |
| Net income | −$545M | −$132M | −$33M | −$276M | −$202M | 27% |
| Operating cash flow | $50M | $243M | $486M | $139M | $118M | 15% |
| Buybacks | $790K | $470K | $802K | $751K | $660K | 12% |
| Dividends | $7M | $38M | $132M | $101M | $7M | 93% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Apr 9, 2026 | RMR Group LLC | SCHEDULE 13D | 6.8% | Active |
Insider trading
- Open-market buys, 12 mo
- $50M · 5
- Open-market sells, 12 mo
- $400K · 3
- Net
- $50M
Pay vs performance
No pay-versus-performance disclosure yet.