State of New Jersey Common Pension Fund D Increases Position in Office Properties Income Trust (NASDAQ:OPI)

State of New Jersey Common Pension Fund D grew its stake in Office Properties Income Trust (NASDAQ:OPIGet Rating) by 16.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,523 shares of the company’s stock after acquiring an additional 18,654 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Office Properties Income Trust were worth $1,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OPI. JPMorgan Chase & Co. boosted its position in shares of Office Properties Income Trust by 10.9% in the 1st quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock worth $8,321,000 after purchasing an additional 31,660 shares in the last quarter. Raymond James & Associates boosted its position in shares of Office Properties Income Trust by 12.3% in the 1st quarter. Raymond James & Associates now owns 20,748 shares of the company’s stock worth $534,000 after purchasing an additional 2,266 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Office Properties Income Trust by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 750,061 shares of the company’s stock worth $19,299,000 after purchasing an additional 14,056 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Office Properties Income Trust in the 1st quarter worth $490,000. Finally, Bank of Montreal Can boosted its position in shares of Office Properties Income Trust by 18.0% in the 1st 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 in the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Office Properties Income Trust Stock Performance

Shares of OPI opened at $16.03 on Friday. The stock has a 50-day moving average of $14.83 and a two-hundred day moving average of $16.45. Office Properties Income Trust has a one year low of $12.17 and a one year high of $26.22. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $778.51 million, a P/E ratio of 178.13 and a beta of 1.22.

Office Properties Income Trust (NASDAQ:OPIGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.79). The company had revenue of $137.68 million during the quarter, compared to analyst estimates of $138.94 million. Office Properties Income Trust had a net margin of 0.78% and a return on equity of 0.31%. As a group, research analysts predict that Office Properties Income Trust will post 4.73 EPS for the current year.

Office Properties Income Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 16th. Investors of record on Monday, January 23rd will be paid a $0.55 dividend. The ex-dividend date is Friday, January 20th. This represents a $2.20 annualized dividend and a dividend yield of 13.72%. Office Properties Income Trust’s dividend payout ratio is presently 2,444.72%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OPI. Morgan Stanley lowered their price objective on Office Properties Income Trust from $14.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, November 23rd. B. Riley lowered their price objective on Office Properties Income Trust from $35.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, October 31st. Finally, StockNews.com began coverage on Office Properties Income Trust in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Office Properties Income Trust Profile

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OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

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Institutional Ownership by Quarter for Office Properties Income Trust (NASDAQ:OPI)

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