Office Properties Income Trust (NASDAQ:OPI) Releases Earnings Results, Misses Estimates By $1.61 EPS

Office Properties Income Trust (NASDAQ:OPI) posted its quarterly earnings data on Wednesday. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($1.61), reports. Office Properties Income Trust had a negative return on equity of 1.92% and a negative net margin of 4.75%. The company had revenue of $120.62 million for the quarter, compared to analyst estimates of $119.93 million.

Office Properties Income Trust Stock Down 5.7 %

Shares of NASDAQ:OPI traded down $0.09 during trading on Friday, reaching $1.50. 1,690,248 shares of the company traded hands, compared to its average volume of 1,004,698. The firm has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.74. Office Properties Income Trust has a 1-year low of $1.35 and a 1-year high of $7.53. The firm has a market cap of $80.02 million, a P/E ratio of -3.33 and a beta of 1.15.

Office Properties Income Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, October 28th will be paid a $0.01 dividend. The ex-dividend date is Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 2.67%. Office Properties Income Trust’s dividend payout ratio is presently -8.89%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Office Properties Income Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

Institutional Trading of Office Properties Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of OPI. Vanguard Personalized Indexing Management LLC raised its stake in shares of Office Properties Income Trust by 40.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,758 shares of the company’s stock worth $34,000 after purchasing an additional 4,798 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Office Properties Income Trust by 32.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,686 shares of the company’s stock worth $91,000 after purchasing an additional 10,900 shares during the last quarter. Optas LLC bought a new position in shares of Office Properties Income Trust during the 2nd quarter valued at $34,000. Point72 DIFC Ltd bought a new stake in Office Properties Income Trust in the second quarter worth $34,000. Finally, Summit Securities Group LLC acquired a new position in Office Properties Income Trust during the second quarter worth $55,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.