Q2 2024 EPS Estimates for Office Properties Income Trust (NASDAQ:OPI) Reduced by B. Riley

Office Properties Income Trust (NASDAQ:OPI) – Stock analysts at B. Riley dropped their Q2 2024 earnings estimates for shares of Office Properties Income Trust in a research note issued on Monday, May 6th. B. Riley analyst B. Maher now expects that the company will post earnings of $0.65 per share for the quarter, down from their prior forecast of $0.80. 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 $2.85 per share. B. Riley also issued estimates for Office Properties Income Trust’s Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.72 EPS, Q1 2025 earnings at $0.63 EPS, Q2 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.61 EPS, Q1 2026 earnings at $0.66 EPS and FY2026 earnings at $2.47 EPS.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.92). Office Properties Income Trust had a negative return on equity of 5.76% and a negative net margin of 13.72%. The business had revenue of $139.44 million during the quarter, compared to analysts’ expectations of $128.28 million. During the same quarter last year, the business posted $1.09 EPS.

Several other analysts have also issued reports on the company. StockNews.com raised Office Properties Income Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Morgan Stanley cut their price objective on shares of Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating for the company in a research note on Thursday, March 28th.

Office Properties Income Trust Trading Down 7.4 %

Shares of Office Properties Income Trust stock opened at $2.31 on Tuesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.82 and a quick ratio of 1.82. Office Properties Income Trust has a 1 year low of $1.81 and a 1 year high of $8.80. The firm has a market cap of $112.37 million, a PE ratio of -1.50, a PEG ratio of 0.09 and a beta of 1.18. The company has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $3.97.

Institutional Investors Weigh In On Office Properties Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Office Properties Income Trust during the third quarter valued at $85,000. Mackenzie Financial Corp purchased a new position in Office Properties Income Trust in the third quarter worth about $57,000. CTC Alternative Strategies Ltd. bought a new position in shares of Office Properties Income Trust in the third quarter worth approximately $64,000. Diligent Investors LLC grew its holdings in shares of Office Properties Income Trust by 14.8% during the third quarter. Diligent Investors LLC now owns 18,931 shares of the company’s stock valued at $78,000 after buying an additional 2,437 shares during the last quarter. Finally, Jump Financial LLC increased its position in shares of Office Properties Income Trust by 109.2% during the third quarter. Jump Financial LLC now owns 63,891 shares of the company’s stock valued at $262,000 after acquiring an additional 33,344 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, April 19th. Office Properties Income Trust’s dividend payout ratio is presently -2.60%.

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.