Office Properties Income Trust (NASDAQ:OPI) Plans $0.01 Quarterly Dividend

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 given a dividend of 0.01 per share on Thursday, May 16th. This represents a $0.04 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, April 19th.

Office Properties Income Trust has decreased its dividend payment by an average of 16.1% per year over the last three years. Office Properties Income Trust has a payout ratio of -1.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Down 1.0 %

Shares of NASDAQ OPI opened at $1.89 on Thursday. Office Properties Income Trust has a 52-week low of $1.81 and a 52-week high of $8.80. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05. The firm’s fifty day moving average is $2.51 and its two-hundred day moving average is $4.19.

Office Properties Income Trust (NASDAQ:OPI) last issued its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($1.75). The firm 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 forecast that Office Properties Income Trust will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Office Properties Income Trust

Several hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its position in Office Properties Income Trust by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 36,120 shares of the company’s stock valued at $929,000 after purchasing an additional 12,764 shares during the period. Penserra Capital Management LLC raised its holdings in Office Properties Income Trust by 28.8% during the 1st quarter. Penserra Capital Management LLC now owns 11,432 shares of the company’s stock valued at $294,000 after buying an additional 2,556 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Office Properties Income Trust by 0.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 469,708 shares of the company’s stock valued at $12,086,000 after buying an additional 3,914 shares during the period. Vanguard Group Inc. lifted its position in Office Properties Income Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,055,780 shares of the company’s stock worth $207,276,000 after buying an additional 95,828 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Office Properties Income Trust during the first quarter worth $705,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com cut Office Properties Income Trust from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Morgan Stanley reduced their price target on shares of Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a research report on Thursday, March 28th.

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.