Office Properties Income Trust (NASDAQ:OPI) Issues Earnings Results

Office Properties Income Trust (NASDAQ:OPI) released its earnings results on Monday. The company reported $0.93 EPS for the quarter, reports. The company had revenue of $114.17 million during the quarter.

Office Properties Income Trust Price Performance

Office Properties Income Trust stock traded up $0.11 during mid-day trading on Wednesday, reaching $16.61. 65,193 shares of the company’s stock traded hands, compared to its average volume of 256,413. The firm’s 50 day moving average price is $15.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.29. Office Properties Income Trust has a 12-month low of $11.79 and a 12-month high of $27.80.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Office Properties Income Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Office Properties Income Trust currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Insiders Place Their Bets

In related news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $19.03, for a total transaction of $3,344,218.02. Following the sale, the insider owned 3,961,992 shares in the company, valued at approximately $75,396,707.76. This represents a 4.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 198,246 shares of company stock worth $3,772,567 over the last quarter.

About Office Properties Income Trust

Office Properties Income Trust (OPI) is a real estate investment trust focused on owning and leasing office properties in the United States. Its properties serve government agencies and private-sector businesses, with tenants using the space for a range of administrative and corporate operations. OPI was formed in 2018 through the combination of Government Properties Income Trust and Select Income REIT. Its portfolio has included office buildings in markets across the country, and the trust’s strategy has centered on leasing office space to a mix of public- and private-sector tenants.