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

State Street Corp lessened its stake in shares of Office Properties Income Trust (NASDAQ:OPI) by 59.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 188,228 shares of the company’s stock after selling 277,975 shares during the quarter. State Street Corp owned about 0.34% of Office Properties Income Trust worth $410,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its position in Office Properties Income Trust by 40.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,758 shares of the company’s stock worth $34,000 after acquiring an additional 4,798 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Office Properties Income Trust during the 2nd quarter worth about $34,000. Quadrature Capital Ltd bought a new stake in Office Properties Income Trust during the 3rd quarter valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Office Properties Income Trust in the 2nd quarter valued at approximately $145,000. Finally, Susquehanna Fundamental Investments LLC increased its position in Office Properties Income Trust by 104.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 141,726 shares of the company’s stock worth $289,000 after buying an additional 72,530 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Office Properties Income Trust Stock Performance

Shares of Office Properties Income Trust stock 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 current ratio of 1.89 and a quick ratio of 1.89. The firm has a 50 day simple moving average of $1.32 and a 200 day simple moving average of $1.90. Office Properties Income Trust has a fifty-two week low of $0.93 and a fifty-two week high of $7.04.

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

Office Properties Income Trust Dividend Announcement

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