B. Riley Weighs in on Office Properties Income Trust’s FY2024 Earnings (NASDAQ:OPI)

Office Properties Income Trust (NASDAQ:OPI) – B. Riley raised their FY2024 EPS estimates for Office Properties Income Trust in a report released on Friday, September 8th. B. Riley analyst B. Maher now forecasts that the company will post earnings of $3.86 per share for the year, up from their previous forecast of $3.80. B. Riley currently has a “Buy” rating and a $17.00 target price on the stock. The consensus estimate for Office Properties Income Trust’s current full-year earnings is $3.73 per share.

A number of other research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Office Properties Income Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of Office Properties Income Trust in a research note on Wednesday, July 19th.

Office Properties Income Trust Trading Up 0.7 %

Shares of OPI stock opened at $5.89 on Monday. Office Properties Income Trust has a 52-week low of $5.65 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $8.77. The company has a market capitalization of $286.18 million, a price-to-earnings ratio of 26.77, a PEG ratio of 0.14 and a beta of 1.24.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.32). Office Properties Income Trust had a return on equity of 0.78% and a net margin of 2.00%. The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $132.12 million.

Hedge Funds Weigh In On Office Properties Income Trust

Institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC grew its holdings in shares of Office Properties Income Trust by 8,694.7% during the 2nd quarter. Lindbrook Capital LLC now owns 3,342 shares of the company’s stock valued at $26,000 after purchasing an additional 3,304 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Office Properties Income Trust by 378.6% during the 2nd quarter. Fifth Third Bancorp now owns 3,460 shares of the company’s stock valued at $27,000 after purchasing an additional 2,737 shares during the last quarter. Belpointe Asset Management LLC bought a new position in shares of Office Properties Income Trust during the 4th quarter valued at $43,000. Bessemer Group Inc. bought a new position in shares of Office Properties Income Trust during the 4th quarter valued at $43,000. Finally, CWM LLC grew its holdings in shares of Office Properties Income Trust by 155.5% during the 2nd quarter. CWM LLC now owns 7,900 shares of the company’s stock valued at $61,000 after purchasing an additional 4,808 shares during the last quarter. Institutional investors own 75.42% of the company’s stock.

Office Properties Income Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, July 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 16.98%. The ex-dividend date was Friday, July 21st. Office Properties Income Trust’s payout ratio is 454.55%.

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 June 30, 2023, approximately 63% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 155 properties as of June 30, 2023, with approximately 20.8 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.