Dafinchi AI

Service Properties Trust

SVC

Financial Services

1w

Financial Performance Summary

Adjusted EBITDAre decreased by $7.7 million year-over-year to $163.8 million, impacted by an $8.8 million increase in interest expense and lower hotel returns.
Hotel portfolio generated adjusted hotel EBITDA of $73 million, an 11.3% decline year-over-year but towards the high end of guidance.
Net lease portfolio remains stable with 742 properties, 97% leased, $387 million in annual minimum rents, and a 2.04x rent coverage ratio.
Normalized FFO for Q2 2025 was $57.6 million or $0.35 per share, down from $0.45 per share in the prior year quarter.
RevPAR increased 40 basis points year-over-year, outperforming the industry by 90 basis points, driven by occupancy and ADR gains.
The 84 hotels planned for retention showed a 1.5% RevPAR increase but an 11.7% decrease in adjusted hotel EBITDA due to elevated labor costs and renovation disruptions.

S&T Bancorp, Inc.

STBA

Financial Services

3w

Financial Performance Summary

Allowance for credit losses declined by 2 basis points to 1.24% of total loans.
Expenses increased by $3 million compared to Q1, mainly due to salary increases, incentives, and higher medical costs.
Loan growth was 5% for the quarter, driving total assets to over $9.8 billion.
Net interest margin expanded to 3.88%, up 7 basis points linked quarter, with net interest income rising almost 4%.
Noninterest income increased by $3.1 million, aided by a rebound in consumer activity and securities repositioning.
Q2 2025 EPS was $0.83 with net income of $32 million and ROA of 1.32%.
Tangible common equity ratio increased by 18 basis points, supported by strong retained earnings and AOCI improvement.

SKT

Financial Services

1w

Financial Performance Summary

Core FFO for Q2 2025 was $0.58 per share, a 9.4% increase year-over-year, driven by strong same-center NOI growth of 5.3%.
Liquidity totaled approximately $614 million, including cash, lines of credit, and forward equity proceeds.
Net debt to adjusted EBITDA was 5x at quarter end, with 95% of debt at fixed rates and a weighted average interest rate of 4%.
Occupancy increased sequentially to 96.6%, with blended leasing spreads of 12% over the trailing 12 months.
Same-center NOI for the first half of 2025 increased 3.8%.
Tenant sales rose 6.2% to $465 per square foot on a trailing 12-month basis, supported by increased traffic to centers.

The Macerich Company

MAC

Financial Services

3d

Financial Performance Summary

FFO adjusted for the quarter was approximately $87 million or $0.33 per share in Q2 2025.
Go-Forward Portfolio Centers NOI increased 2.4% in Q2 2025 compared to Q2 2024, with a 2% increase year-to-date.
Net debt to EBITDA was 7.9x at the end of Q2 2025, nearly a full turn lower than at the outset of the Path Forward plan.
Occupancy at the end of Q2 was 92%, down 60 basis points due to Forever 21 store closures; go-forward portfolio occupancy was 92.8%.
Portfolio sales at the end of Q2 were $849 per square foot, up $12 from Q1 2025; go-forward portfolio sales were $906 per square foot.
Trailing 12-month leasing spreads remained positive at 10.5%, marking 15 consecutive quarters of positive spreads.

Blue Owl Capital Inc.

OWL

Financial Services

2w

Financial Performance Summary

Blue Owl Capital reported fee-related earnings (FRE) of $0.23 per share and distributable earnings (DE) of $0.21 per share for Q2 2025.
Direct lending portfolio gross returns were 3% in Q2 and 13.5% over the last 12 months; alternative credit gross returns were 2% in Q2 and 15.7% over last 12 months.
Equity fundraising hit a record with over $12 billion raised in Q2 and over $36 billion over the last 12 months, nearly 90% increase from prior year.
FRE margin guidance for the year is 57% to 58%, with Q2 printing at 57%.
Management fees increased by 32% over the last 12 months, with 87% from permanent capital vehicles.
Net lease gross returns were 4.1% for Q2; real estate credit investments yielded 8.1% yield to maturity and 11.1% debt yield.
The company declared a dividend of $0.225 per share for Q2 payable on August 28 to holders of record as of August 14.
The company maintained strong credit quality with average annual realized losses at 13 basis points in direct lending.
The listing of the technology-focused BDC, OTF, contributed approximately $6 million in incremental management fees in Q2.
Year-over-year on a last 12 months basis, FRE revenues grew by 29%, FRE by 23%, and DE by 20%.