Morgan Stanley Trims Office Properties Income Trust (NASDAQ:OPI) Target Price to $1.60

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) had its price target cut by analysts at Morgan Stanley from $1.80 to $1.60 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price objective suggests a potential downside of 21.57% from the company's current price.

Separately, StockNews.com cut Office Properties Income Trust from a "hold" rating to a "sell" rating in a research report on Monday, February 19th.

Office Properties Income Trust Stock Down 2.4 %

NASDAQ OPI traded down $0.05 on Thursday, reaching $2.04. The stock had a trading volume of 922,403 shares, compared to its average volume of 1,512,614. The business has a 50 day moving average price of $2.97 and a 200 day moving average price of $4.52. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05. Office Properties Income Trust has a 1 year low of $1.91 and a 1 year high of $12.74. The company has a market capitalization of $99.47 million, a price-to-earnings ratio of -1.42, a P/E/G ratio of 0.06 and a beta of 1.22.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last released its quarterly 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 company had revenue of $133.77 million for 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 EPS for the current fiscal year.

Institutional Investors Weigh In On Office Properties Income Trust

A number of large investors have recently bought and sold shares of OPI. AQR Capital Management LLC grew its position in Office Properties Income Trust by 183.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,364,968 shares of the company's stock worth $5,596,000 after acquiring an additional 883,221 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Office Properties Income Trust by 3,458.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 772,697 shares of the company's stock valued at $5,656,000 after buying an additional 750,984 shares during the last quarter. Norges Bank bought a new position in Office Properties Income Trust in the 4th quarter valued at $6,022,000. Invesco Ltd. boosted its position in Office Properties Income Trust by 26.8% in the 3rd quarter. Invesco Ltd. now owns 2,082,102 shares of the company's stock valued at $8,537,000 after buying an additional 439,574 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Office Properties Income Trust in the 3rd quarter valued at $1,649,000. 64.41% of the stock is currently owned by institutional investors.

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.