ValuEngine upgraded shares of Office Properties Income Trust (NASDAQ:OPI) from a strong sell rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.
A number of other research firms have also recently issued reports on OPI. Jefferies Financial Group raised Office Properties Income Trust from an underperform rating to a hold rating and raised their price objective for the company from $23.00 to $25.00 in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Morgan Stanley set a $27.00 price target on shares of Office Properties Income Trust and gave the company a hold rating in a research report on Monday, June 17th. Zacks Investment Research upgraded shares of Office Properties Income Trust from a sell rating to a hold rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upgraded shares of Office Properties Income Trust from an underperform rating to a sector perform rating and set a $27.00 price target for the company in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $27.25.
NASDAQ OPI traded down $0.27 during trading on Thursday, reaching $26.97. 290,442 shares of the stock traded hands, compared to its average volume of 244,747. Office Properties Income Trust has a fifty-two week low of $23.36 and a fifty-two week high of $68.84. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 3.39 and a beta of 1.65. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.69. The firm’s 50-day moving average is $26.64.
Office Properties Income Trust (NASDAQ:OPI) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.32. Office Properties Income Trust had a return on equity of 0.95% and a net margin of 1.13%. The firm had revenue of $176.03 million during the quarter, compared to the consensus estimate of $156.50 million. As a group, equities analysts anticipate that Office Properties Income Trust will post 5.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 29th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend is Friday, July 26th. Office Properties Income Trust’s dividend payout ratio (DPR) is presently 27.67%.
Hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC acquired a new stake in Office Properties Income Trust during the first quarter worth approximately $27,000. Versant Capital Management Inc purchased a new position in Office Properties Income Trust during the 1st quarter valued at about $29,000. Rehmann Capital Advisory Group purchased a new position in Office Properties Income Trust during the 1st quarter valued at about $36,000. Public Employees Retirement System of Ohio purchased a new position in Office Properties Income Trust during the 4th quarter valued at about $39,000. Finally, LS Investment Advisors LLC purchased a new position in Office Properties Income Trust during the 1st quarter valued at about $39,000. 66.73% of the stock is owned by institutional investors and hedge funds.
About Office Properties Income Trust
Office Properties Income Trust is a real estate investment trust, or REIT, which owns buildings primarily leased to single tenants and those with high credit quality characteristics like government entities. In December 2018, our predecessor company Government Properties Income Trust, or GOV, merged with Select Income REIT, or SIR, and the combined company was renamed Office Properties Income Trust, or OPI.
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