Office Properties Income Trust (NASDAQ:OPI) Price Target Lowered to $1.60 at Morgan Stanley

Office Properties Income Trust (NASDAQ:OPI) had its price target trimmed by Morgan Stanley from $1.80 to $1.60 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Separately, StockNews.com cut shares of Office Properties Income Trust from a hold rating to a sell rating in a research report on Monday, February 19th.

Office Properties Income Trust Trading Down 2.4 %

NASDAQ OPI opened at $2.04 on Thursday. The firm’s 50-day moving average is $2.97 and its two-hundred day moving average is $4.52. Office Properties Income Trust has a 12 month low of $1.91 and a 12 month high of $12.74. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $99.47 million, a P/E ratio of -1.42, a PEG ratio of 0.06 and a beta of 1.22.

Office Properties Income Trust (NASDAQ:OPI) last posted its earnings results on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($1.75). Office Properties Income Trust had a negative net margin of 13.01% and a negative return on equity of 5.28%. The company had revenue of $133.77 million during the quarter, compared to analyst estimates of $133.03 million. On average, sell-side analysts anticipate that Office Properties Income Trust will post 2.85 earnings per share for the current year.

Office Properties Income Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd were given a dividend of $0.01 per share. The ex-dividend date was Friday, January 19th. This represents a $0.04 annualized dividend and a dividend yield of 1.96%. Office Properties Income Trust’s dividend payout ratio is presently -2.78%.

Institutional Trading of Office Properties Income Trust

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Office Properties Income Trust by 183.3% during the third quarter. AQR Capital Management LLC now owns 1,364,968 shares of the company’s stock worth $5,596,000 after buying an additional 883,221 shares during the period. Penserra Capital Management LLC increased its stake in Office Properties Income Trust by 14.5% in the third quarter. Penserra Capital Management LLC now owns 69,672 shares of the company’s stock valued at $285,000 after purchasing an additional 8,798 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Office Properties Income Trust in the third quarter valued at approximately $539,000. Invesco Ltd. increased its stake in Office Properties Income Trust by 26.8% in the third quarter. Invesco Ltd. now owns 2,082,102 shares of the company’s stock valued at $8,537,000 after purchasing an additional 439,574 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Office Properties Income Trust by 9.0% in the third quarter. Public Employees Retirement System of Ohio now owns 73,909 shares of the company’s stock valued at $303,000 after purchasing an additional 6,113 shares during the last quarter. 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.