Connor Clark & Lunn Investment Management Ltd. Buys 167,031 Shares of Office Properties Income Trust (NASDAQ:OPI)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Office Properties Income Trust (NASDAQ:OPI) by 42.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 557,107 shares of the company’s stock after purchasing an additional 167,031 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.00% of Office Properties Income Trust worth $1,214,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Office Properties Income Trust by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,920,629 shares of the company’s stock worth $10,038,000 after purchasing an additional 45,874 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Office Properties Income Trust by 32.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,686 shares of the company’s stock valued at $91,000 after buying an additional 10,900 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Office Properties Income Trust in the first quarter valued at about $364,000. Optas LLC acquired a new stake in Office Properties Income Trust in the second quarter worth about $34,000. Finally, Summit Securities Group LLC acquired a new stake in Office Properties Income Trust in the second quarter worth about $55,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

Office Properties Income Trust Price Performance

Shares of OPI opened at $1.72 on Wednesday. The company’s fifty day moving average price is $1.79 and its 200-day moving average price is $2.10. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a market capitalization of $95.94 million, a PE ratio of -3.82 and a beta of 1.18. Office Properties Income Trust has a 1-year low of $1.06 and a 1-year high of $7.53.

Office Properties Income Trust (NASDAQ:OPI) last issued its earnings results on Wednesday, October 30th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.61). Office Properties Income Trust had a negative net margin of 4.75% and a negative return on equity of 1.92%. The firm had revenue of $120.62 million during the quarter, compared to analysts’ expectations of $119.93 million. On average, equities research analysts predict that Office Properties Income Trust will post 2.26 EPS for the current year.

Office Properties Income Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 2.33%. Office Properties Income Trust’s dividend payout ratio (DPR) is presently -8.89%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Office Properties Income Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

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.