Van ECK Associates Corp Trims Stake in Office Properties Income Trust (NASDAQ:OPI)

Van ECK Associates Corp reduced its holdings in Office Properties Income Trust (NASDAQ:OPIGet Rating) by 36.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,763 shares of the company’s stock after selling 1,584 shares during the period. Van ECK Associates Corp’s holdings in Office Properties Income Trust were worth $39,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OPI. JPMorgan Chase & Co. grew its holdings in Office Properties Income Trust by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock valued at $8,321,000 after purchasing an additional 31,660 shares during the period. Raymond James & Associates grew its holdings in Office Properties Income Trust by 12.3% in the first quarter. Raymond James & Associates now owns 20,748 shares of the company’s stock valued at $534,000 after purchasing an additional 2,266 shares during the period. Bank of New York Mellon Corp grew its holdings in Office Properties Income Trust by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 750,061 shares of the company’s stock valued at $19,299,000 after purchasing an additional 14,056 shares during the period. American Century Companies Inc. acquired a new stake in Office Properties Income Trust in the first quarter valued at approximately $490,000. Finally, Bank of Montreal Can boosted its stake in shares of Office Properties Income Trust by 18.0% in the first quarter. Bank of Montreal Can now owns 17,044 shares of the company’s stock worth $439,000 after acquiring an additional 2,601 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OPI. Morgan Stanley lowered their price target on Office Properties Income Trust from $14.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 23rd. StockNews.com began coverage on Office Properties Income Trust in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, B. Riley lowered their price target on Office Properties Income Trust from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, October 31st.

Office Properties Income Trust Stock Performance

Shares of Office Properties Income Trust stock opened at $16.03 on Friday. Office Properties Income Trust has a one year low of $12.17 and a one year high of $26.22. The company has a market cap of $778.51 million, a price-to-earnings ratio of 178.13 and a beta of 1.22. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $14.83 and its 200 day moving average price is $16.48.

Office Properties Income Trust (NASDAQ:OPIGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.79). Office Properties Income Trust had a return on equity of 0.31% and a net margin of 0.78%. The company had revenue of $137.68 million for the quarter, compared to analysts’ expectations of $138.94 million. On average, research analysts predict that Office Properties Income Trust will post 4.73 EPS for the current year.

Office Properties Income Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 16th. Investors of record on Monday, January 23rd will be given a dividend of $0.55 per share. The ex-dividend date is Friday, January 20th. This represents a $2.20 dividend on an annualized basis and a yield of 13.72%. Office Properties Income Trust’s payout ratio is 2,444.72%.

Office Properties Income Trust Profile

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OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

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Institutional Ownership by Quarter for Office Properties Income Trust (NASDAQ:OPI)

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