Office Properties Income Trust (NASDAQ:OPI) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Office Properties Income Trust (NASDAQ:OPI) from a sell rating to a hold rating in a report released on Thursday.

Separately, Morgan Stanley reduced their target price on shares of 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.

Office Properties Income Trust Price Performance

Shares of OPI traded up $0.31 during mid-day trading on Thursday, reaching $2.87. The stock had a trading volume of 3,604,453 shares, compared to its average volume of 968,599. The company has a current ratio of 1.82, a quick ratio of 1.27 and a debt-to-equity ratio of 2.06. The business’s fifty day moving average is $2.14 and its 200 day moving average is $4.01. Office Properties Income Trust has a 52-week low of $1.81 and a 52-week high of $8.80.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.92). Office Properties Income Trust had a negative return on equity of 5.76% and a negative net margin of 13.72%. The business had revenue of $139.44 million during the quarter, compared to analysts’ expectations of $128.28 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, equities research analysts anticipate that Office Properties Income Trust will post 2.85 earnings per share for the current year.

Office Properties Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPI. AQR Capital Management LLC increased its stake in Office Properties Income Trust by 183.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,364,968 shares of the company’s stock valued at $5,596,000 after buying an additional 883,221 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Office Properties Income Trust by 3,458.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 772,697 shares of the company’s stock valued at $5,656,000 after buying an additional 750,984 shares in the last quarter. Invesco Ltd. grew its holdings in Office Properties Income Trust by 26.8% during the third quarter. Invesco Ltd. now owns 2,082,102 shares of the company’s stock worth $8,537,000 after acquiring an additional 439,574 shares during the period. Charles Schwab Investment Management Inc. raised its position in Office Properties Income Trust by 19.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,964,664 shares of the company’s stock worth $14,381,000 after acquiring an additional 315,094 shares in the last quarter. Finally, Privium Fund Management B.V. purchased a new position in Office Properties Income Trust in the first quarter worth $412,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

About Office Properties Income Trust

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.