Office Properties Income Trust (OPI) To Go Ex-Dividend on April 19th

Office Properties Income Trust (NASDAQ:OPI) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Monday, April 22nd will be given a dividend of 0.01 per share on Thursday, May 16th. This represents a $0.04 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, April 19th.

Office Properties Income Trust has decreased its dividend by an average of 16.1% per year over the last three years. Office Properties Income Trust has a dividend payout ratio of -1.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Office Properties Income Trust to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.7%.

Office Properties Income Trust Stock Down 5.8 %

OPI stock opened at $2.04 on Friday. Office Properties Income Trust has a 12 month low of $1.81 and a 12 month high of $8.80. The firm has a 50 day simple moving average of $2.61 and a 200 day simple moving average of $4.24. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 1.27.

Office Properties Income Trust (NASDAQ:OPI) last released its earnings results on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate 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 business had revenue of $133.77 million for the quarter, compared to analyst estimates of $133.03 million. On average, research analysts anticipate that Office Properties Income Trust will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OPI. JPMorgan Chase & Co. increased its stake in Office Properties Income Trust by 10.9% in the 1st quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock valued at $8,321,000 after buying an additional 31,660 shares during the period. Raymond James & Associates increased its stake in Office Properties Income Trust by 12.3% in the 1st quarter. Raymond James & Associates now owns 20,748 shares of the company’s stock valued at $534,000 after buying an additional 2,266 shares during the period. Bank of New York Mellon Corp increased its stake in 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 valued at $19,299,000 after buying an additional 14,056 shares during the period. American Century Companies Inc. acquired a new position in Office Properties Income Trust in the 1st quarter valued at approximately $490,000. Finally, Bank of Montreal Can increased its stake in 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 valued at $439,000 after buying an additional 2,601 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

OPI has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Office Properties Income Trust from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Morgan Stanley cut 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 report on Thursday, March 28th.

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.