Office Properties Income Trust Declares Quarterly Dividend of $0.01 (NASDAQ:OPI)

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Investors of record on Monday, October 28th will be given a dividend of 0.01 per share on Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, October 28th.

Office Properties Income Trust has decreased its dividend payment by an average of 16.1% per year over the last three years. Office Properties Income Trust has a 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 $1.65 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 2.4%.

Office Properties Income Trust Stock Performance

Shares of NASDAQ OPI traded up $0.01 during trading on Thursday, reaching $2.04. 432,138 shares of the company traded hands, compared to its average volume of 993,975. The stock has a market cap of $102.57 million, a P/E ratio of -1.32 and a beta of 1.15. The firm's fifty day simple moving average is $2.17 and its 200 day simple moving average is $2.21. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Office Properties Income Trust has a 12-month low of $1.81 and a 12-month high of $7.53.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.93. Office Properties Income Trust had a return on equity of 1.11% and a net margin of 2.69%. The company had revenue of $123.69 million during the quarter, compared to analysts' expectations of $123.45 million. As a group, research analysts anticipate that Office Properties Income Trust will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Office Properties Income Trust from a "buy" rating to a "hold" rating in a report on Tuesday.

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.