Office Properties Income Trust (NASDAQ:OPI) to Post Q2 2024 Earnings of $0.64 Per Share, B. Riley Forecasts

Office Properties Income Trust (NASDAQ:OPI) – Analysts at B. Riley decreased their Q2 2024 earnings per share estimates for shares of Office Properties Income Trust in a report issued on Wednesday, July 3rd. B. Riley analyst B. Maher now expects that the company will post earnings of $0.64 per share for the quarter, down from their prior forecast of $0.65. B. Riley has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Office Properties Income Trust’s current full-year earnings is $2.42 per share. B. Riley also issued estimates for Office Properties Income Trust’s Q3 2024 earnings at $0.52 EPS, Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $2.43 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.47 EPS, Q1 2026 earnings at $0.52 EPS and Q2 2026 earnings at $0.52 EPS.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $128.28 million. During the same quarter in the previous year, the company posted $1.09 earnings per share.

OPI has been the subject of a number of other reports. StockNews.com raised shares of Office Properties Income Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Morgan Stanley lowered their price target 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.

Office Properties Income Trust Price Performance

Office Properties Income Trust stock opened at $1.94 on Monday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $94.58 million, a price-to-earnings ratio of -1.26 and a beta of 1.16. The firm has a 50-day moving average of $2.24 and a two-hundred day moving average of $2.94. Office Properties Income Trust has a 1 year low of $1.81 and a 1 year high of $8.80.

Office Properties Income Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a yield of 2.06%. Office Properties Income Trust’s dividend payout ratio is currently -2.60%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC acquired a new stake in Office Properties Income Trust in the 1st quarter worth about $1,915,000. AQR Capital Management LLC increased its position in shares of Office Properties Income Trust by 183.3% during the third quarter. AQR Capital Management LLC now owns 1,364,968 shares of the company’s stock worth $5,596,000 after purchasing an additional 883,221 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Office Properties Income Trust by 3,458.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 772,697 shares of the company’s stock worth $5,656,000 after purchasing an additional 750,984 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Office Properties Income Trust by 19.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,964,664 shares of the company’s stock valued at $14,381,000 after purchasing an additional 315,094 shares during the last quarter. Finally, Privium Fund Management B.V. purchased a new position in Office Properties Income Trust in the 1st quarter valued at $412,000. 64.41% of the stock is owned by institutional investors and hedge funds.

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.