Office Properties Income Trust (NASDAQ:OPI) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Office Properties Income Trust (NASDAQ:OPI) from a hold rating to a buy rating in a report published on Monday.

Separately, B. Riley reduced their price target on shares of Office Properties Income Trust from $10.00 to $7.00 and set a buy rating for the company in a research note on Monday, May 6th.

Office Properties Income Trust Stock Performance

Shares of OPI opened at $2.13 on Monday. The company has a market cap of $107.10 million, a price-to-earnings ratio of -1.38 and a beta of 1.16. The business’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $2.27. Office Properties Income Trust has a 12 month low of $1.81 and a 12 month high of $7.53. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Office Properties Income Trust (NASDAQ:OPI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.93. Office Properties Income Trust had a return on equity of 1.11% and a net margin of 2.69%. The firm had revenue of $123.69 million for the quarter, compared to the consensus estimate of $123.45 million. Research analysts anticipate that Office Properties Income Trust will post 2.38 earnings per share for the current fiscal year.

Office Properties Income Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 22nd were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, July 22nd. Office Properties Income Trust’s dividend payout ratio is -2.60%.

Institutional Trading of Office Properties Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its holdings in Office Properties Income Trust by 217.2% in the 4th quarter. CWM LLC now owns 4,324 shares of the company’s stock valued at $32,000 after acquiring an additional 2,961 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Office Properties Income Trust in the fourth quarter worth about $572,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 315,094 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Office Properties Income Trust by 27.0% during the fourth quarter. Principal Financial Group Inc. now owns 53,636 shares of the company’s stock valued at $393,000 after buying an additional 11,402 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Office Properties Income Trust by 18.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,375 shares of the company’s stock valued at $218,000 after buying an additional 4,950 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.