Insider Selling: Office Properties Income Trust (NASDAQ:OPI) Major Shareholder Sells $49,808.64 in Stock

Key Points

• Redwood Capital Management sold 2,616 OPI shares for $49,808.64 at an average price of $19.04, reducing its ownership by 0.06% to 4.16 million shares.
• The shareholder also sold additional OPI stock in recent transactions, including 162,254 shares for approximately $3.20 million on August 6.
• OPI traded flat at $18.95, while analysts maintained a “Moderate Buy” consensus and a $27.00 average price target; institutional investors own 64.41% of the stock.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) major shareholder Redwood Capital Management, Ll sold 2,616 shares of Office Properties Income Trust stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $19.04, for a total value of $49,808.64. Following the sale, the insider owned 4,160,238 shares of the company's stock, valued at approximately $79,210,931.52. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Redwood Capital Management, Ll also recently made the following trade(s):

• On Thursday, August 13th, Redwood Capital Management, Ll sold 1,826 shares of Office Properties Income Trust stock. The stock was sold at an average price of $19.00, for a total value of $34,694.00.
• On Tuesday, August 11th, Redwood Capital Management, Ll sold 2,413 shares of Office Properties Income Trust stock. The stock was sold at an average price of $19.00, for a total value of $45,847.00.
• On Thursday, August 6th, Redwood Capital Management, Ll sold 162,254 shares of Office Properties Income Trust stock. The shares were sold at an average price of $19.71, for a total transaction of $3,198,026.34.

Office Properties Income Trust Price Performance

NASDAQ OPI remained flat at $18.95 during trading on Thursday. 57,636 shares of the company's stock were exchanged, compared to its average volume of 596,809. Office Properties Income Trust has a 1 year low of $15.14 and a 1 year high of $27.80.

Hedge Funds Weigh In On Office Properties Income Trust

An institutional investor recently raised its position in Office Properties Income Trust stock. Jane Street Group LLC lifted its position in Office Properties Income Trust (NASDAQ:OPI - Free Report) by 290.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 688,815 shares of the company's stock after acquiring an additional 512,368 shares during the period. Jane Street Group LLC owned approximately 0.93% of Office Properties Income Trust worth $170,000 at the end of the most recent quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OPI has been the topic of several analyst reports. Odeon Capital Group assumed coverage on Office Properties Income Trust in a research note on Tuesday, July 7th. They issued a "buy" rating and a $27.00 price objective on the stock. Wall Street Zen upgraded Office Properties Income Trust to a "hold" rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.00.

About Office Properties Income Trust

Office Properties Income Trust NASDAQ: OPI is a real estate investment trust formed to acquire, own and manage single-tenant, net-leased office properties across the United States. Organized as a Maryland REIT, the company completed its initial public offering in 2020 and trades on the NASDAQ under the ticker “OPI.” Its investment strategy centers on free-standing office buildings leased on long-term, triple-net leases to creditworthy tenants, offering predictable cash flows and limited operational exposure.

The trust’s core activities include sourcing and underwriting acquisitions, overseeing property management and structuring lease agreements that transfer most property expenses to tenants.

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