Morgan Stanley Lowers Office Properties Income Trust (NASDAQ:OPI) Price Target to $1.60

Office Properties Income Trust (NASDAQ:OPI) had its price target reduced by equities researchers at Morgan Stanley from $1.80 to $1.60 in a report released on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 23.26% from the stock’s previous close.

Separately, StockNews.com lowered Office Properties Income Trust from a “hold” rating to a “sell” rating in a research note on Monday, February 19th.

Office Properties Income Trust Stock Performance

OPI stock traded down $0.01 during midday trading on Thursday, hitting $2.09. 107,634 shares of the company traded hands, compared to its average volume of 1,498,686. Office Properties Income Trust has a twelve month low of $1.91 and a twelve month high of $12.74. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.05. The business has a 50 day simple moving average of $3.01 and a 200-day simple moving average of $4.53. The stock has a market capitalization of $101.66 million, a price-to-earnings ratio of -1.47, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22.

Office Properties Income Trust (NASDAQ:OPI) last announced its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($1.75). The business had revenue of $133.77 million during the quarter, compared to analyst estimates of $133.03 million. Office Properties Income Trust had a negative net margin of 13.01% and a negative return on equity of 5.28%. As a group, equities research analysts predict that Office Properties Income Trust will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OPI. JPMorgan Chase & Co. increased its position in Office Properties Income Trust by 10.9% during the 1st quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock valued at $8,321,000 after buying an additional 31,660 shares in the last quarter. Raymond James & Associates raised its holdings in Office Properties Income Trust by 12.3% during the first quarter. Raymond James & Associates now owns 20,748 shares of the company’s stock valued at $534,000 after acquiring an additional 2,266 shares during the period. Bank of New York Mellon Corp raised its holdings in Office Properties Income Trust by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 750,061 shares of the company’s stock valued at $19,299,000 after acquiring an additional 14,056 shares during the period. American Century Companies Inc. bought a new stake in shares of Office Properties Income Trust in the first quarter worth about $490,000. Finally, Bank of Montreal Can increased its holdings in shares of Office Properties Income Trust by 18.0% in the first quarter. Bank of Montreal Can now owns 17,044 shares of the company’s stock worth $439,000 after purchasing an additional 2,601 shares during the last quarter. Institutional investors 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.