Mirae Asset Global Investments Co. Ltd. Purchases 750,984 Shares of Office Properties Income Trust (NASDAQ:OPI)

Mirae Asset Global Investments Co. Ltd. increased its position in Office Properties Income Trust (NASDAQ:OPI) by 3,458.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 772,697 shares of the company’s stock after acquiring an additional 750,984 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Office Properties Income Trust were worth $5,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Office Properties Income Trust by 10.9% during 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% during 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% during 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. bought a new stake in Office Properties Income Trust during the first quarter valued at about $490,000. Finally, Bank of Montreal Can grew its holdings in Office Properties Income Trust by 18.0% during the first quarter. Bank of Montreal Can now owns 17,044 shares of the company’s stock valued at $439,000 after purchasing an additional 2,601 shares during the period. Institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Price Performance

Shares of Office Properties Income Trust stock opened at $2.04 on Monday. The stock’s 50-day simple moving average is $2.61 and its 200-day simple moving average is $4.24. Office Properties Income Trust has a 52 week low of $1.81 and a 52 week high of $8.80. The company has a market capitalization of $99.47 million, a price-to-earnings ratio of -1.42, a PEG ratio of 0.06 and a beta of 1.20. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.05.

Office Properties Income Trust (NASDAQ:OPI) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.98 by ($1.75). Office Properties Income Trust had a negative net margin of 13.01% and a negative return on equity of 5.28%. The business had revenue of $133.77 million during the quarter, compared to analysts’ expectations of $133.03 million. As a group, analysts expect that Office Properties Income Trust will post 2.85 earnings per share for the current fiscal year.

Office Properties Income Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.96%. Office Properties Income Trust’s dividend payout ratio is currently -2.78%.

Analyst Upgrades and Downgrades

OPI has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a research report on Thursday, March 28th. StockNews.com downgraded Office Properties Income Trust from a “hold” rating to a “sell” rating in a research report on Monday, February 19th.

Office Properties Income Trust 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.