Office Properties Income Trust (NASDAQ:OPI) Stock Rating Lowered by Zacks Investment Research

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Office Properties Income Trust (NASDAQ:OPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Office Properties Income Trust is a real estate investment trust. It owns buildings primarily leased to single tenants as well as government entities. Office Properties Income Trust, formerly known as Government Properties Income Trust, is based in Newton, United States. “

A number of other brokerages have also issued reports on OPI. Jefferies Financial Group set a €8.10 ($9.42) target price on shares of Commerzbank and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Morgan Stanley initiated coverage on shares of in a research note on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a GBX 670 ($8.75) price objective on shares of in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Office Properties Income Trust currently has a consensus rating of “Hold” and an average price target of $27.25.

Shares of Office Properties Income Trust stock opened at $26.49 on Wednesday. The firm has a 50 day moving average of $25.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.69. Office Properties Income Trust has a fifty-two week low of $23.36 and a fifty-two week high of $68.84. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.63, a P/E/G ratio of 1.00 and a beta of 1.65.

Office Properties Income Trust (NASDAQ:OPI) last issued its earnings results on Friday, May 3rd. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.16. The company had revenue of $174.80 million for the quarter, compared to analysts’ expectations of $177.83 million. Office Properties Income Trust had a net margin of 1.13% and a return on equity of 0.95%. Office Properties Income Trust’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 EPS. Equities analysts anticipate that Office Properties Income Trust will post 5.29 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. LSV Asset Management acquired a new position in shares of Office Properties Income Trust during the first quarter worth $38,008,000. Quinn Opportunity Partners LLC acquired a new position in shares of Office Properties Income Trust during the first quarter valued at about $10,231,000. Rhumbline Advisers acquired a new position in shares of Office Properties Income Trust during the first quarter valued at about $4,214,000. Accident Compensation Corp acquired a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $3,768,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $3,080,000. 66.52% of the stock is currently owned by institutional investors and hedge funds.

About Office Properties Income Trust

Office Properties Income Trust is a real estate investment trust, or REIT, which owns buildings primarily leased to single tenants and those with high credit quality characteristics like government entities. In December 2018, our predecessor company Government Properties Income Trust, or GOV, merged with Select Income REIT, or SIR, and the combined company was renamed Office Properties Income Trust, or OPI.

See Also: What does a hold rating mean?

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