Office Properties Income Trust (NASDAQ:OPI) to Post Q2 2024 Earnings of $0.65 Per Share, B. Riley Forecasts

Office Properties Income Trust (NASDAQ:OPI) – Equities research analysts at B. Riley dropped their Q2 2024 earnings estimates for Office Properties Income Trust in a report issued on Monday, May 6th. B. Riley analyst B. Maher now anticipates that the company will earn $0.65 per share for the quarter, down from their prior estimate of $0.80. B. Riley has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Office Properties Income Trust’s current full-year earnings is $2.85 per share. B. Riley also issued estimates for Office Properties Income Trust’s 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, Q1 2026 earnings at $0.66 EPS and FY2026 earnings at $2.47 EPS.

Office Properties Income Trust (NASDAQ:OPI) last issued its earnings results on Wednesday, May 1st. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.92). Office Properties Income Trust had a negative return on equity of 5.76% and a negative net margin of 13.72%. The company had revenue of $139.44 million for the quarter, compared to the consensus estimate of $128.28 million. During the same quarter in the prior year, the company posted $1.09 EPS.

A number of other brokerages have also recently commented on OPI. StockNews.com upgraded Office Properties Income Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Morgan Stanley reduced their target price 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 Down 9.8 %

NASDAQ OPI opened at $2.49 on Tuesday. The stock has a 50 day moving average price of $2.13 and a 200-day moving average price of $3.98. Office Properties Income Trust has a one year low of $1.81 and a one year 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 company has a market capitalization of $121.39 million, a P/E ratio of -1.62, a P/E/G ratio of 0.09 and a beta of 1.18.

Institutional Investors Weigh In On Office Properties Income Trust

A number of institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new stake in Office Properties Income Trust in the 1st quarter valued at about $141,000. Callan Capital LLC acquired a new position in shares of Office Properties Income Trust in the 1st quarter worth approximately $64,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Office Properties Income Trust by 72.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,332,026 shares of the company’s stock worth $2,717,000 after purchasing an additional 559,329 shares during the period. Privium Fund Management B.V. acquired a new stake in Office Properties Income Trust in the 1st quarter valued at approximately $412,000. Finally, Los Angeles Capital Management LLC raised its position in Office Properties Income Trust by 86.6% in the first quarter. Los Angeles Capital Management LLC now owns 145,788 shares of the company’s stock valued at $297,000 after purchasing an additional 67,650 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

Office Properties Income Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.61%. Office Properties Income Trust’s payout ratio is currently -2.60%.

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.