Geode Capital Management LLC Trims Stake in Office Properties Income Trust (NASDAQ:OPI)

Geode Capital Management LLC lessened its stake in shares of Office Properties Income Trust (NASDAQ:OPI) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 654,645 shares of the company’s stock after selling 14,410 shares during the period. Geode Capital Management LLC’s holdings in Office Properties Income Trust were worth $1,427,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OPI. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Office Properties Income Trust by 40.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,758 shares of the company’s stock worth $34,000 after buying an additional 4,798 shares in the last quarter. Marshall Wace LLP acquired a new stake in Office Properties Income Trust during the second quarter worth approximately $161,000. Point72 DIFC Ltd acquired a new stake in Office Properties Income Trust during the second quarter worth approximately $34,000. Squarepoint Ops LLC purchased a new stake in Office Properties Income Trust in the 2nd quarter worth approximately $179,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Office Properties Income Trust in the 2nd quarter valued at $145,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Office Properties Income Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

Office Properties Income Trust Trading Down 7.0 %

NASDAQ OPI opened at $0.91 on Friday. The company has a market cap of $50.88 million, a P/E ratio of -2.03 and a beta of 1.25. Office Properties Income Trust has a 12 month low of $0.90 and a 12 month high of $6.30. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.89 and a quick ratio of 1.89. The company has a 50-day moving average of $1.26 and a 200-day moving average of $1.87.

Office Properties Income Trust (NASDAQ:OPI) last released its earnings results on Wednesday, October 30th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.61). The company had revenue of $120.62 million during the quarter, compared to analysts’ expectations of $119.93 million. Office Properties Income Trust had a negative net margin of 4.75% and a negative return on equity of 1.92%. As a group, equities analysts predict that Office Properties Income Trust will post 2.26 earnings per share for the current year.

Office Properties Income Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 4.39%. Office Properties Income Trust’s payout ratio is -8.89%.

Office Properties Income Trust Company 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.