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

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

Separately, Morgan Stanley reduced their target price on Office Properties Income Trust from $1.80 to $1.60 and set an underweight rating for the company in a report on Thursday, March 28th.

Office Properties Income Trust Trading Down 3.8 %

OPI stock traded down $0.11 during mid-day trading on Thursday, reaching $2.76. 1,129,307 shares of the stock traded hands, compared to its average volume of 1,372,474. The stock’s fifty day moving average is $2.14 and its 200-day moving average is $4.00. The company has a market cap of $134.55 million, a P/E ratio of -1.79, a P/E/G ratio of 0.09 and a beta of 1.18. The company has a current ratio of 1.82, a quick 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.

Office Properties Income Trust (NASDAQ:OPI) last announced its earnings results on Wednesday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.92). Office Properties Income Trust had a negative net margin of 13.72% and a negative return on equity of 5.76%. The firm had revenue of $139.44 million for the quarter, compared to analyst estimates of $128.28 million. During the same period last year, the firm earned $1.09 earnings per share. As a group, sell-side analysts expect that Office Properties Income Trust will post 2.85 earnings per share 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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 19th. Office Properties Income Trust’s dividend payout ratio is currently -2.60%.

Institutional Trading of Office Properties Income Trust

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Office Properties Income Trust during the third quarter valued at $85,000. Mackenzie Financial Corp acquired a new stake in shares of Office Properties Income Trust in the 3rd quarter valued at approximately $57,000. CTC Alternative Strategies Ltd. bought a new position in Office Properties Income Trust during the third quarter worth about $64,000. Diligent Investors LLC lifted its stake in Office Properties Income Trust by 14.8% in the third quarter. Diligent Investors LLC now owns 18,931 shares of the company’s stock valued at $78,000 after buying an additional 2,437 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Office Properties Income Trust by 109.2% in the 3rd quarter. Jump Financial LLC now owns 63,891 shares of the company’s stock valued at $262,000 after purchasing an additional 33,344 shares during the period. 64.41% of the stock is owned by 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.