State Street Corp Sells 277,975 Shares of Office Properties Income Trust (NASDAQ:OPI)

State Street Corp cut its holdings in Office Properties Income Trust (NASDAQ:OPI) by 59.6% during the third quarter, Holdings Channel.com reports. The firm owned 188,228 shares of the company’s stock after selling 277,975 shares during the quarter. State Street Corp’s holdings in Office Properties Income Trust were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OPI. GSA Capital Partners LLP acquired a new stake in Office Properties Income Trust in the third quarter valued at $704,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Office Properties Income Trust by 42.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,107 shares of the company’s stock worth $1,214,000 after buying an additional 167,031 shares during the last quarter. Littlejohn & Co. LLC acquired a new position in Office Properties Income Trust during the third quarter worth approximately $198,000. Squarepoint Ops LLC bought a new stake in Office Properties Income Trust in the second quarter valued at approximately $179,000. Finally, RBF Capital LLC lifted its position in shares of Office Properties Income Trust by 16.3% in the third quarter. RBF Capital LLC now owns 590,366 shares of the company’s stock valued at $1,287,000 after buying an additional 82,872 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

Analysts Set New Price Targets

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

Office Properties Income Trust Stock Down 2.0 %

Shares of OPI opened at $0.98 on Friday. The firm has a market cap of $54.46 million, a P/E ratio of -2.17 and a beta of 1.17. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.89 and a current ratio of 1.89. Office Properties Income Trust has a 52 week low of $0.93 and a 52 week high of $7.04. The firm’s 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.90.

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

Office Properties Income Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 4.10%. Office Properties Income Trust’s payout ratio is presently -8.89%.

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.