Research Analysts Issue Forecasts for OPI FY2024 Earnings

Office Properties Income Trust (NASDAQ:OPI) – Equities research analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Office Properties Income Trust in a research report issued to clients and investors on Friday, November 1st. B. Riley analyst B. Maher now forecasts that the company will earn $2.16 per share for the year, down from their prior estimate of $2.34. The consensus estimate for Office Properties Income Trust’s current full-year earnings is $2.26 per share. B. Riley also issued estimates for Office Properties Income Trust’s Q4 2024 earnings at $0.34 EPS.

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

Office Properties Income Trust Stock Performance

Office Properties Income Trust stock opened at $1.42 on Monday. Office Properties Income Trust has a fifty-two week low of $1.35 and a fifty-two week high of $7.53. The stock’s 50 day simple moving average is $2.04 and its two-hundred day simple moving average is $2.19. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.89 and a current ratio of 1.89. The stock 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) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $120.62 million during the quarter, compared to the consensus estimate of $119.93 million.

Office Properties Income Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 2.82%. Office Properties Income Trust’s payout ratio is presently -8.89%.

Institutional Trading of Office Properties Income Trust

Several institutional investors have recently bought and sold shares of OPI. Vanguard Group Inc. increased its holdings in shares of Office Properties Income Trust by 0.9% in the 1st 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. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 during the period. Pacific Ridge Capital Partners LLC purchased a new position in shares of Office Properties Income Trust during the first quarter valued at approximately $1,915,000. GSA Capital Partners LLP bought a new stake in Office Properties Income Trust in the 3rd quarter worth approximately $704,000. Finally, Quadrature Capital Ltd purchased a new stake in Office Properties Income Trust during the 1st quarter valued at $364,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

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.