Wells Fargo & Company MN Grows Holdings in Office Properties Income Trust (NASDAQ:OPI)

Wells Fargo & Company MN grew its stake in Office Properties Income Trust (NASDAQ:OPI) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 104,433 shares of the company’s stock after acquiring an additional 1,147 shares during the period. Wells Fargo & Company MN owned about 0.22% of Office Properties Income Trust worth $2,744,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Wilen Investment Management CORP. acquired a new position in shares of Office Properties Income Trust in the first quarter valued at approximately $236,000. Piedmont Investment Advisors Inc. acquired a new position in shares of Office Properties Income Trust in the first quarter valued at approximately $336,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Office Properties Income Trust in the first quarter valued at approximately $850,000. Belpointe Asset Management LLC acquired a new position in shares of Office Properties Income Trust in the first quarter valued at approximately $135,000. Finally, Garner Asset Management Corp grew its holdings in shares of Office Properties Income Trust by 95.7% in the second quarter. Garner Asset Management Corp now owns 213,514 shares of the company’s stock valued at $5,609,000 after purchasing an additional 104,434 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $27.00 price objective on shares of Office Properties Income Trust and gave the company a “hold” rating in a report on Monday, June 17th. Zacks Investment Research cut shares of Office Properties Income Trust from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Royal Bank of Canada upgraded shares of Office Properties Income Trust from an “underperform” rating to a “sector perform” rating and set a $27.00 price target for the company in a report on Friday, June 28th. Finally, ValuEngine upgraded shares of Office Properties Income Trust from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $27.50.



NASDAQ OPI traded up $0.38 on Tuesday, hitting $29.71. 10,626 shares of the stock were exchanged, compared to its average volume of 281,852. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Office Properties Income Trust has a fifty-two week low of $23.36 and a fifty-two week high of $47.04. The company has a market cap of $1.41 billion, a PE ratio of 3.73 and a beta of 1.65. The company has a 50-day moving average price of $27.97 and a 200-day moving average price of $27.05.

Office Properties Income Trust (NASDAQ:OPI) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.33 by $0.32. Office Properties Income Trust had a negative net margin of 15.86% and a negative return on equity of 4.92%. The company had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $156.50 million. As a group, equities research analysts predict that Office Properties Income Trust will post 5.88 EPS for the current fiscal year.

About Office Properties Income Trust

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.

Featured Story: Current Ratio

Want to see what other hedge funds are holding OPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Office Properties Income Trust (NASDAQ:OPI).

Institutional Ownership by Quarter for Office Properties Income Trust (NASDAQ:OPI)

Receive News & Ratings for Office Properties Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Properties Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.