B. Riley Issues Pessimistic Outlook for OPI Earnings

Office Properties Income Trust (NASDAQ:OPI - Free Report) - Stock analysts at B. Riley cut their FY2024 EPS estimates for Office Properties Income Trust in a report released on Friday, November 1st. B. Riley analyst B. Maher now forecasts that the company will post earnings per share of $2.16 for the year, down from their previous estimate of $2.34. The consensus estimate for Office Properties Income Trust's current full-year earnings is $2.35 per share. B. Riley also issued estimates for Office Properties Income Trust's Q4 2024 earnings at $0.34 EPS.

Separately, StockNews.com downgraded Office Properties Income Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th.

Office Properties Income Trust Stock Performance

NASDAQ:OPI traded down $0.08 during mid-day trading on Monday, hitting $1.42. 1,175,707 shares of the company traded hands, compared to its average volume of 1,005,528. The stock's fifty day moving average price is $2.06 and its 200-day moving average price is $2.20. The company has a quick ratio of 1.35, a current ratio of 1.89 and a debt-to-equity ratio of 1.82. Office Properties Income Trust has a one year low of $1.35 and a one year high of $7.53. The firm has a market cap of $79.21 million, a price-to-earnings ratio of -3.16 and a beta of 1.18.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of $0.47 by ($1.61). The company had revenue of $120.62 million during the quarter, compared to analysts' expectations of $119.93 million. Office Properties Income Trust had a negative return on equity of 1.92% and a negative net margin of 4.75%.

Office Properties Income Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.82%. The ex-dividend date is Monday, October 28th. Office Properties Income Trust's dividend payout ratio is currently -8.89%.

Institutional Trading of Office Properties Income Trust

Several institutional investors have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC purchased a new position in Office Properties Income Trust in the 1st quarter worth approximately $1,915,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Office Properties Income Trust by 72.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,332,026 shares of the company's stock worth $2,717,000 after buying an additional 559,329 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Office Properties Income Trust in the first quarter worth $364,000. Squarepoint Ops LLC bought a new position in shares of Office Properties Income Trust during the second quarter worth $179,000. Finally, Marshall Wace LLP purchased a new position in Office Properties Income Trust during the second quarter valued at $161,000. Hedge funds and other institutional investors own 64.41% of the company's stock.

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.