B. Riley Cuts Office Properties Income Trust (NASDAQ:OPI) Price Target to $7.00

Office Properties Income Trust (NASDAQ:OPI) had its target price decreased by B. Riley from $10.00 to $7.00 in a research report sent to investors on Monday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Office Properties Income Trust’s Q2 2024 earnings at $0.65 EPS, Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.72 EPS, Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.61 EPS, FY2025 earnings at $2.44 EPS, Q1 2026 earnings at $0.66 EPS and FY2026 earnings at $2.47 EPS.

OPI has been the topic of a number of other research reports. Morgan Stanley cut their price target on shares of Office Properties Income Trust from $1.80 to $1.60 and set an underweight rating on the stock in a research note on Thursday, March 28th. StockNews.com raised Office Properties Income Trust from a sell rating to a hold rating in a research report on Thursday, May 2nd.

Office Properties Income Trust Price Performance

OPI stock opened at $2.28 on Monday. The stock has a market capitalization of $110.91 million, a price-to-earnings ratio of -1.48, a price-to-earnings-growth ratio of 0.09 and a beta of 1.18. The stock’s fifty day simple moving average is $2.11 and its 200-day simple moving average is $3.95. Office Properties Income Trust has a 52-week low of $1.81 and a 52-week high of $8.80. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 2.06.

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

Office Properties Income Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a yield of 1.76%. Office Properties Income Trust’s dividend payout ratio (DPR) is -2.60%.

Hedge Funds Weigh In On Office Properties Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in shares of Office Properties Income Trust by 183.3% during the third quarter. AQR Capital Management LLC now owns 1,364,968 shares of the company’s stock worth $5,596,000 after purchasing an additional 883,221 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Office Properties Income Trust by 14.5% in the 3rd quarter. Penserra Capital Management LLC now owns 69,672 shares of the company’s stock worth $285,000 after acquiring an additional 8,798 shares during the period. Graham Capital Management L.P. acquired a new stake in Office Properties Income Trust in the third quarter valued at approximately $539,000. Invesco Ltd. raised its stake in shares of Office Properties Income Trust by 26.8% during the third quarter. Invesco Ltd. now owns 2,082,102 shares of the company’s stock valued at $8,537,000 after purchasing an additional 439,574 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Office Properties Income Trust by 9.0% during the third quarter. Public Employees Retirement System of Ohio now owns 73,909 shares of the company’s stock worth $303,000 after purchasing an additional 6,113 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Office Properties Income Trust Company Profile

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.