Vanguard Group Inc. Reduces Holdings in Office Properties Income Trust (NASDAQ:OPI)

Vanguard Group Inc. trimmed its holdings in shares of Office Properties Income Trust (NASDAQ:OPI) by 26.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,966,037 shares of the company’s stock after selling 1,806,220 shares during the period. Vanguard Group Inc. owned about 0.10% of Office Properties Income Trust worth $20,361,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Office Properties Income Trust by 10.9% in the 1st quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock worth $8,321,000 after acquiring an additional 31,660 shares during the period. Raymond James & Associates boosted its holdings in shares of Office Properties Income Trust by 12.3% in the 1st 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 last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Office Properties Income Trust by 1.9% in the 1st 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 last quarter. American Century Companies Inc. acquired a new position in shares of Office Properties Income Trust in the 1st quarter valued at $490,000. Finally, Bank of Montreal Can boosted its holdings in shares of Office Properties Income Trust by 18.0% in the 1st 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 last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Office Properties Income Trust Stock Performance

NASDAQ:OPI opened at $2.04 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05. The firm 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 firm’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $4.24. Office Properties Income Trust has a twelve month low of $1.81 and a twelve month high of $8.80.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($1.75). Office Properties Income Trust had a negative return on equity of 5.28% and a negative net margin of 13.01%. The firm had revenue of $133.77 million during the quarter, compared to analyst estimates of $133.03 million. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be issued 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 yield of 1.96%. Office Properties Income Trust’s dividend payout ratio is currently -2.78%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Office Properties Income Trust from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Morgan Stanley reduced their target price on shares of Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 28th.

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.