Office Properties Income Trust (NASDAQ:OPI) Posts Quarterly Earnings Results, Misses Expectations By $0.92 EPS

Posted by Renee Jackson on May 4th, 2024

Office Properties Income Trust (NASDAQ:OPI – Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.92), Zacks reports. Office Properties Income Trust had a negative return on equity of 5.76% and a negative net margin of 13.72%. The company had revenue of $139.44 million for the quarter, compared to analysts’ expectations of $128.28 million. During the same period in the prior year, the firm posted $1.09 EPS.

Office Properties Income Trust Stock Performance

Shares of NASDAQ:OPI traded up $0.31 on Friday, hitting $2.87. The company had a trading volume of 3,604,453 shares, compared to its average volume of 968,599. The company has a quick ratio of 1.27, a current ratio of 1.82 and a debt-to-equity ratio of 2.06. Office Properties Income Trust has a 52-week low of $1.81 and a 52-week high of $8.80. The business has a 50 day moving average of $2.14 and a 200 day moving average of $4.01.

Office Properties Income Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be issued a $0.01 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.39%. Office Properties Income Trust’s dividend payout ratio (DPR) is -2.60%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Office Properties Income Trust from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley lowered their target price on Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 28th.

View Our Latest Analysis on Office Properties Income Trust

About Office Properties Income Trust

(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.