Geode Capital Management LLC Decreases Holdings in Office Properties Income Trust (NASDAQ:OPI)

Geode Capital Management LLC reduced its holdings in shares of Office Properties Income Trust (NASDAQ:OPI) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 654,645 shares of the company’s stock after selling 14,410 shares during the quarter. Geode Capital Management LLC owned approximately 1.17% of Office Properties Income Trust worth $1,427,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its stake in Office Properties Income Trust by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,758 shares of the company’s stock valued at $34,000 after acquiring an additional 4,798 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Office Properties Income Trust during the second quarter worth about $34,000. Quadrature Capital Ltd purchased a new stake in shares of Office Properties Income Trust in the 3rd quarter valued at about $65,000. Barclays PLC boosted its position in shares of Office Properties Income Trust by 141.7% in the 3rd quarter. Barclays PLC now owns 83,246 shares of the company’s stock valued at $182,000 after purchasing an additional 48,807 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Office Properties Income Trust during the 2nd quarter worth approximately $145,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Stock Performance

OPI opened at $0.91 on Friday. Office Properties Income Trust has a 1-year low of $0.90 and a 1-year high of $6.30. The stock has a market cap of $50.88 million, a P/E ratio of -2.03 and a beta of 1.25. The stock’s 50 day simple moving average is $1.26 and its 200 day simple moving average is $1.87. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.89 and a quick ratio of 1.89.

Office Properties Income Trust (NASDAQ:OPI) last posted its earnings results on Wednesday, October 30th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $120.62 million during the quarter, compared to analyst estimates of $119.93 million. As a group, equities analysts anticipate that Office Properties Income Trust will post 2.26 EPS for the current fiscal year.

Office Properties Income Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 4.39%. Office Properties Income Trust’s dividend payout ratio (DPR) is currently -8.89%.

Analysts Set New Price Targets

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

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.