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

Office Properties Income Trust (NASDAQ:OPI) had its price objective trimmed by B. Riley from $10.00 to $7.00 in a research note published on Monday morning, Benzinga reports. The brokerage 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.

Several other analysts have also commented on OPI. StockNews.com raised Office Properties Income Trust from a sell rating to a hold rating in a report on Thursday, May 2nd. Morgan Stanley dropped 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.

Office Properties Income Trust Stock Performance

NASDAQ OPI opened at $2.31 on Monday. Office Properties Income Trust has a fifty-two week low of $1.81 and a fifty-two week high of $8.80. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $112.37 million, a P/E ratio of -1.50, a PEG ratio of 0.09 and a beta of 1.18. The stock has a 50-day simple moving average of $2.12 and a two-hundred day simple moving average of $3.97.

Office Properties Income Trust (NASDAQ:OPI) last announced 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). Office Properties Income Trust had a negative net margin of 13.72% and a negative return on equity of 5.76%. The company had revenue of $139.44 million during the quarter, compared to analyst estimates of $128.28 million. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts forecast that Office Properties Income Trust will post 2.85 earnings per share for the current year.

Office Properties Income Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be issued 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 dividend yield of 1.74%. Office Properties Income Trust’s payout ratio is currently -2.60%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. EMC Capital Management grew its holdings in shares of Office Properties Income Trust by 100.2% during the third quarter. EMC Capital Management now owns 7,513 shares of the company’s stock worth $31,000 after buying an additional 3,761 shares in the last quarter. CWM LLC increased its position in shares of Office Properties Income Trust by 217.2% during the 4th quarter. CWM LLC now owns 4,324 shares of the company’s stock worth $32,000 after purchasing an additional 2,961 shares during the last quarter. Allworth Financial LP raised its holdings in Office Properties Income Trust by 3,098.6% in the 4th quarter. Allworth Financial LP now owns 4,670 shares of the company’s stock valued at $34,000 after buying an additional 4,524 shares during the period. Meeder Asset Management Inc. purchased a new stake in Office Properties Income Trust in the 4th quarter valued at about $37,000. Finally, Dark Forest Capital Management LP purchased a new position in Office Properties Income Trust during the third quarter worth about $41,000. 64.41% of the stock is owned by institutional investors and hedge funds.

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.