Office Properties Income Trust (NASDAQ:OPI) Plans $0.01 Quarterly Dividend

Office Properties Income Trust (NASDAQ:OPI) declared a quarterly dividend on Friday, July 12th, Wall Street Journal reports. Stockholders of record on Monday, July 22nd will be paid a dividend of 0.01 per share on Thursday, August 15th. This represents a $0.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, July 22nd.

Office Properties Income Trust has decreased its dividend by an average of 16.1% per year over the last three years. Office Properties Income Trust has a payout ratio of -1.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Office Properties Income Trust to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.4%.

Office Properties Income Trust Stock Up 4.0 %

Shares of NASDAQ OPI traded up $0.09 during mid-day trading on Friday, hitting $2.36. The company had a trading volume of 787,313 shares, compared to its average volume of 1,203,362. The company has a market capitalization of $118.66 million, a PE ratio of -1.55 and a beta of 1.16. The firm has a 50-day simple moving average of $2.23 and a two-hundred day simple moving average of $2.93. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 2.06. Office Properties Income Trust has a one year low of $1.81 and a one year high of $8.80.

Office Properties Income Trust (NASDAQ:OPI) last posted its earnings results on Wednesday, May 1st. The company reported ($0.11) earnings per share 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 for the quarter, compared to analyst estimates of $128.28 million. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts expect that Office Properties Income Trust will post 2.42 EPS for the current year.

Analyst Upgrades and Downgrades

OPI has been the topic of several recent research reports. StockNews.com upgraded Office Properties Income Trust from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley reduced their target price on Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 28th. Finally, B. Riley reduced their target price on Office Properties Income Trust from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, May 6th.

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.