Rhumbline Advisers Reduces Stock Holdings in Office Properties Income Trust (NASDAQ:OPI)

Rhumbline Advisers reduced its stake in shares of Office Properties Income Trust (NASDAQ:OPI) by 50.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,534 shares of the company’s stock after selling 44,906 shares during the quarter. Rhumbline Advisers’ holdings in Office Properties Income Trust were worth $91,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OPI. Principal Financial Group Inc. increased 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 purchasing an additional 11,402 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Office Properties Income Trust during the fourth quarter valued at $634,000. Los Angeles Capital Management LLC increased its holdings 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 buying an additional 67,650 shares in the last quarter. Privium Fund Management B.V. acquired a new position in shares of Office Properties Income Trust in the first quarter worth about $412,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake 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 acquiring an additional 559,329 shares in the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Office Properties Income Trust Price Performance

Office Properties Income Trust stock opened at $2.18 on Tuesday. The stock has a market capitalization of $109.61 million, a P/E ratio of -1.42 and a beta of 1.15. The company’s fifty day moving average price is $2.29 and its 200 day moving average price is $2.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.35. Office Properties Income Trust has a 1 year low of $1.81 and a 1 year high of $7.53.

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

Office Properties Income Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.83%. Office Properties Income Trust’s payout ratio is currently -2.60%.

Wall Street Analyst Weigh In

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

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.