Office Properties Income Trust (NASDAQ:OPI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Office Properties Income Trust (NASDAQ:OPI) from a buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Office Properties Income Trust is a real estate investment trust. It owns buildings primarily leased to single tenants as well as government entities. Office Properties Income Trust, formerly known as Government Properties Income Trust, is based in Newton, United States. “

Several other equities analysts also recently issued reports on OPI. ValuEngine downgraded shares of Office Properties Income Trust from a sell rating to a strong sell rating in a research note on Wednesday. Morgan Stanley downgraded shares of Office Properties Income Trust from an overweight rating to an underweight rating and set a $27.00 price objective on the stock. in a research note on Friday, December 13th. Finally, Mizuho initiated coverage on shares of Office Properties Income Trust in a research note on Monday, February 3rd. They set a neutral rating and a $34.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $28.80.

Shares of NASDAQ OPI traded up $0.13 on Thursday, hitting $34.47. The company’s stock had a trading volume of 150,767 shares, compared to its average volume of 224,796. Office Properties Income Trust has a 12-month low of $23.36 and a 12-month high of $35.56. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -11.38 and a beta of 1.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a 50 day moving average of $33.58 and a 200-day moving average of $31.19.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, January 27th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Friday, January 24th. Office Properties Income Trust’s payout ratio is 27.67%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Office Properties Income Trust by 1.4% during the third quarter. State Street Corp now owns 2,639,095 shares of the company’s stock worth $80,862,000 after purchasing an additional 36,857 shares during the period. LSV Asset Management raised its stake in Office Properties Income Trust by 38.6% during the fourth quarter. LSV Asset Management now owns 2,021,086 shares of the company’s stock worth $64,957,000 after purchasing an additional 563,001 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Office Properties Income Trust by 5.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,106,874 shares of the company’s stock worth $35,575,000 after purchasing an additional 55,784 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Office Properties Income Trust by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 937,019 shares of the company’s stock worth $30,116,000 after purchasing an additional 80,940 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Office Properties Income Trust by 1,272.2% during the fourth quarter. Renaissance Technologies LLC now owns 207,955 shares of the company’s stock worth $6,684,000 after purchasing an additional 192,800 shares during the period. 71.26% of the stock is currently owned by institutional investors and hedge funds.

Office Properties Income Trust Company Profile

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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