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

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

Wall Street Analyst Weigh In

OPI has been the subject of a number of research analyst reports. Morgan Stanley reduced 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 note 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.

Office Properties Income Trust Stock Up 12.1 %

NASDAQ OPI traded up $0.31 during trading hours on Friday, hitting $2.87. 3,600,613 shares of the company traded hands, compared to its average volume of 1,375,318. The stock has a market capitalization 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. Office Properties Income Trust has a twelve month low of $1.81 and a twelve month high of $8.80. The business's 50-day moving average is $2.14 and its 200-day moving average is $4.01. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.27 and a current ratio of 1.27.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last released its earnings results 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 net margin of 13.72% and a negative return on equity of 5.71%. The firm had revenue of $139.44 million during the quarter, compared to the consensus estimate of $128.28 million. During the same period in the prior year, the business posted $1.09 earnings per share. Sell-side analysts anticipate that Office Properties Income Trust will post 2.85 earnings per share for the current year.

Office Properties Income Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd will be issued a $0.01 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.39%. Office Properties Income Trust's payout ratio is -2.60%.

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.

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