Office Properties Income Trust (NASDAQ:OPI) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Office Properties Income Trust (NASDAQ:OPI) by 80.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,327 shares of the company’s stock after selling 151,938 shares during the period. Bank of New York Mellon Corp’s holdings in Office Properties Income Trust were worth $74,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of OPI. Principal Financial Group Inc. grew its holdings in shares of Office Properties Income Trust by 27.0% during the 4th quarter. Principal Financial Group Inc. now owns 53,636 shares of the company’s stock valued at $393,000 after acquiring an additional 11,402 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Office Properties Income Trust during the 4th quarter valued at $634,000. Los Angeles Capital Management LLC grew its holdings in shares of Office Properties Income Trust by 86.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 145,788 shares of the company’s stock valued at $297,000 after acquiring an additional 67,650 shares in the last quarter. Privium Fund Management B.V. purchased a new position in shares of Office Properties Income Trust during the 1st quarter valued at $412,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $2,717,000 after acquiring an additional 559,329 shares in the last quarter. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Office Properties Income Trust from a “hold” rating to a “buy” rating in a research note on Monday, September 2nd.

Office Properties Income Trust Stock Up 1.9 %

OPI stock opened at $2.15 on Friday. 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 1 year low of $1.81 and a 1 year high of $7.53. The company has a fifty day simple moving average of $2.29 and a 200 day simple moving average of $2.20. The firm has a market cap of $108.10 million, a PE ratio of -1.40 and a beta of 1.15.

Office Properties Income Trust (NASDAQ:OPI) last released its earnings results on Wednesday, July 31st. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.93. The firm had revenue of $123.69 million during the quarter, compared to analyst estimates of $123.45 million. Office Properties Income Trust had a net margin of 2.69% and a return on equity of 1.11%. Sell-side analysts anticipate that Office Properties Income Trust will post 2.38 EPS for the current fiscal year.

Office Properties Income Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Monday, July 22nd. Office Properties Income Trust’s dividend payout ratio is -2.60%.

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.