Office Properties Income Trust (NASDAQ:OPI) Downgraded by StockNews.com

by · The Cerbat Gem

StockNews.com downgraded shares of Office Properties Income Trust (NASDAQ:OPI – Free Report) from a buy rating to a hold rating in a research report released on Tuesday morning.

Office Properties Income Trust Stock Performance

Shares of NASDAQ OPI opened at $2.04 on Tuesday. The firm’s 50 day moving average price is $2.16 and its 200-day moving average price is $2.20. The company has a market cap of $102.57 million, a PE ratio of -1.32 and a beta of 1.15. Office Properties Income Trust has a 52-week low of $1.81 and a 52-week high of $7.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.35.

Office Properties Income Trust (NASDAQ:OPI – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.93. The firm had revenue of $123.69 million for the quarter, compared to the consensus estimate of $123.45 million. Office Properties Income Trust had a net margin of 2.69% and a return on equity of 1.11%. On average, equities research analysts expect that Office Properties Income Trust will post 2.38 EPS for the current fiscal year.

Office Properties Income Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.96%. Office Properties Income Trust’s dividend payout ratio (DPR) is -2.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPI. Vanguard Group Inc. raised its position in Office Properties Income Trust by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,920,629 shares of the company’s stock worth $10,038,000 after acquiring an additional 45,874 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Office Properties Income Trust by 72.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,332,026 shares of the company’s stock worth $2,717,000 after purchasing an additional 559,329 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new stake in shares of Office Properties Income Trust in the first quarter worth $1,915,000. Privium Fund Management B.V. purchased a new stake in shares of Office Properties Income Trust in the first quarter worth $412,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Office Properties Income Trust in the first quarter worth $364,000. Institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Company Profile

(Get Free Report)

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S. markets. As of December 31, 2023, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned 152 properties as of December 31, 2023, with approximately 20.5 million square feet located in 30 states and Washington, DC In 2023, OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year.

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