Office Properties Income Trust (NASDAQ:OPI) Updates Q2 2024 Earnings Guidance

Office Properties Income Trust (NASDAQ:OPI) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.620-0.640 for the period, compared to the consensus EPS estimate of 0.730. The company issued revenue guidance of -.

Office Properties Income Trust Trading Up 12.1 %

Shares of NASDAQ OPI traded up $0.31 during trading hours on Friday, hitting $2.87. The company’s stock had a trading volume of 3,600,613 shares, compared to its average volume of 1,375,318. Office Properties Income Trust has a 12 month low of $1.81 and a 12 month high of $8.80. The stock has a market cap of $139.94 million, a price-to-earnings ratio of -1.86, a P/E/G ratio of 0.06 and a beta of 1.18. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.27 and a current ratio of 1.27. The business has a 50-day simple moving average of $2.14 and a 200-day simple moving average of $4.01.

Office Properties Income Trust (NASDAQ:OPI) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.92). Office Properties Income Trust had a negative return on equity of 5.71% 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. On average, analysts anticipate that Office Properties Income Trust will post 2.85 earnings per share for the current fiscal year.

Office Properties Income Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, April 19th. Office Properties Income Trust’s dividend payout ratio (DPR) is currently -2.60%.

Wall Street Analyst Weigh In

Several research firms have recently commented on OPI. Morgan Stanley dropped their target price on shares of 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 upgraded shares of Office Properties Income Trust from a sell rating to a hold rating in a report on Thursday.

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.