Office Properties Income Trust (NASDAQ:OPI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Office Properties Income Trust (NASDAQ:OPI) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. They currently have $26.00 price objective on the stock.

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. “

Other equities research analysts have also issued reports about the company. Mizuho cut their price objective on Office Properties Income Trust from $34.00 to $26.00 and set a neutral rating on the stock in a research report on Tuesday, April 28th. ValuEngine lowered Office Properties Income Trust from a sell rating to a strong sell rating in a research report on Monday, April 27th. TheStreet lowered Office Properties Income Trust from a c rating to a d+ rating in a research report on Friday, May 1st. B. Riley cut their price objective on Office Properties Income Trust from $48.00 to $43.00 and set a buy rating on the stock in a research report on Monday, May 4th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $27.00 price objective on shares of Office Properties Income Trust in a research report on Wednesday, April 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Office Properties Income Trust currently has a consensus rating of Hold and an average target price of $29.80.

Office Properties Income Trust stock traded up $0.16 during trading hours on Wednesday, reaching $23.76. The company had a trading volume of 214,846 shares, compared to its average volume of 250,933. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50-day moving average price of $25.21 and a 200 day moving average price of $30.02. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 4.01 and a beta of 1.30. Office Properties Income Trust has a 12-month low of $16.50 and a 12-month high of $35.95.

Office Properties Income Trust (NASDAQ:OPI) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by ($1.09). The company had revenue of $149.89 million during the quarter, compared to analysts’ expectations of $154.03 million. Office Properties Income Trust had a return on equity of 0.42% and a net margin of 1.10%. As a group, research analysts expect that Office Properties Income Trust will post 5.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, April 13th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, April 9th. This represents a $2.20 annualized dividend and a dividend yield of 9.26%. Office Properties Income Trust’s dividend payout ratio is presently 36.61%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPI. Tower Research Capital LLC TRC bought a new stake in shares of Office Properties Income Trust during the fourth quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Office Properties Income Trust during the first quarter valued at approximately $27,000. Wealth Quarterback LLC bought a new stake in shares of Office Properties Income Trust during the fourth quarter valued at approximately $29,000. KBC Group NV bought a new stake in Office Properties Income Trust in the first quarter worth $35,000. Finally, Verus Capital Partners LLC bought a new stake in Office Properties Income Trust in the fourth quarter worth $40,000. Institutional investors own 74.32% of the company’s stock.

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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