Office Properties Income Trust (NASDAQ:OPI) PT Lowered to $7.00

Office Properties Income Trust (NASDAQ:OPI) had its target price reduced by B. Riley from $10.00 to $7.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 154.55% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Morgan Stanley decreased their target price on shares of Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 28th. StockNews.com raised shares of Office Properties Income Trust from a “sell” rating to a “hold” rating in a report on Thursday.

Office Properties Income Trust Price Performance

Shares of NASDAQ OPI traded down $0.12 during mid-day trading on Monday, reaching $2.75. The company had a trading volume of 757,759 shares, compared to its average volume of 1,367,955. The firm has a market cap of $134.06 million, a price-to-earnings ratio of -1.79, a PEG ratio of 0.09 and a beta of 1.18. The business’s 50-day simple moving average is $2.14 and its 200 day simple moving average is $4.00. Office Properties Income Trust has a one year low of $1.81 and a one year high of $8.80. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.82 and a current ratio of 1.82.

Office Properties Income Trust (NASDAQ:OPI) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.92). Office Properties Income Trust had a negative net margin of 13.72% and a negative return on equity of 5.76%. The firm had revenue of $139.44 million during the quarter, compared to the consensus estimate of $128.28 million. During the same period last year, the business earned $1.09 earnings per share. On average, research analysts predict that Office Properties Income Trust will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Office Properties Income Trust

A number of institutional investors and hedge funds have recently bought and sold shares of OPI. Diligent Investors LLC boosted its holdings in shares of Office Properties Income Trust by 14.8% in the 3rd quarter. Diligent Investors LLC now owns 18,931 shares of the company’s stock worth $78,000 after purchasing an additional 2,437 shares in the last quarter. CWM LLC boosted its holdings in Office Properties Income Trust by 217.2% during the 4th quarter. CWM LLC now owns 4,324 shares of the company’s stock valued at $32,000 after acquiring an additional 2,961 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Office Properties Income Trust by 101.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,476 shares of the company’s stock valued at $47,000 after acquiring an additional 3,262 shares during the period. EMC Capital Management boosted its holdings in Office Properties Income Trust by 100.2% during the 3rd quarter. EMC Capital Management now owns 7,513 shares of the company’s stock valued at $31,000 after acquiring an additional 3,761 shares during the period. Finally, Allworth Financial LP boosted its holdings in Office Properties Income Trust by 3,098.6% during the 4th quarter. Allworth Financial LP now owns 4,670 shares of the company’s stock valued at $34,000 after acquiring an additional 4,524 shares during the period. 64.41% of the stock is owned by hedge funds and other institutional investors.

About Office Properties Income Trust

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.