Office Properties Income Trust (OPI) to Issue Quarterly Dividend of $0.01 on May 16th

Office Properties Income Trust (NASDAQ:OPI) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Monday, April 22nd will be paid a dividend of 0.01 per share on Thursday, May 16th. This represents a $0.04 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, April 19th.

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 dividend 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. Analysts expect Office Properties Income Trust to earn $2.32 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 1.7%.

Office Properties Income Trust Trading Down 0.5 %

NASDAQ OPI opened at $1.91 on Wednesday. Office Properties Income Trust has a 12 month low of $1.81 and a 12 month high of $8.80. The company’s 50 day simple moving average is $2.54 and its 200 day simple moving average is $4.20. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.98 by ($1.75). The business had revenue of $133.77 million during the quarter, compared to the consensus estimate of $133.03 million. Office Properties Income Trust had a negative return on equity of 5.28% and a negative net margin of 13.01%. On average, analysts anticipate that Office Properties Income Trust will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Office Properties Income Trust

A number of institutional investors have recently modified their holdings of OPI. JPMorgan Chase & Co. lifted its position in shares of Office Properties Income Trust by 10.9% during the 1st quarter. JPMorgan Chase & Co. now owns 323,394 shares of the company’s stock worth $8,321,000 after purchasing an additional 31,660 shares during the last quarter. Raymond James & Associates increased its position in Office Properties Income Trust by 12.3% in the 1st quarter. Raymond James & Associates now owns 20,748 shares of the company’s stock worth $534,000 after buying an additional 2,266 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Office Properties Income Trust by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 750,061 shares of the company’s stock worth $19,299,000 after buying an additional 14,056 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Office Properties Income Trust during the first quarter worth approximately $490,000. Finally, Bank of Montreal Can boosted its position in shares of Office Properties Income Trust by 18.0% in the first quarter. Bank of Montreal Can now owns 17,044 shares of the company’s stock valued at $439,000 after acquiring an additional 2,601 shares during the period. Institutional investors own 64.41% of the company’s stock.

Analyst Upgrades and Downgrades

OPI has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 28th. StockNews.com lowered shares of Office Properties Income Trust from a “hold” rating to a “sell” rating in a research note on Monday, February 19th.

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.