Mirae Asset Global Investments Co. Ltd. Increases Stake in Office Properties Income Trust (NASDAQ:OPI)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Office Properties Income Trust (NASDAQ:OPI - Free Report) by 3,458.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 772,697 shares of the company's stock after purchasing an additional 750,984 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.58% of Office Properties Income Trust worth $5,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OPI. Qube Research & Technologies Ltd bought a new position in Office Properties Income Trust in the third quarter worth approximately $27,000. EMC Capital Management raised its position in Office Properties Income Trust by 100.2% in the third quarter. EMC Capital Management now owns 7,513 shares of the company's stock worth $31,000 after acquiring an additional 3,761 shares during the period. Allworth Financial LP raised its position in Office Properties Income Trust by 3,098.6% in the fourth quarter. Allworth Financial LP now owns 4,670 shares of the company's stock worth $34,000 after acquiring an additional 4,524 shares during the period. Dark Forest Capital Management LP bought a new position in Office Properties Income Trust in the third quarter worth approximately $41,000. Finally, Bessemer Group Inc. bought a new position in Office Properties Income Trust in the fourth quarter worth approximately $43,000. Institutional investors own 64.41% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley decreased 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. StockNews.com downgraded shares of Office Properties Income Trust from a "hold" rating to a "sell" rating in a research report on Monday, February 19th.

Office Properties Income Trust Price Performance

Shares of OPI stock traded down $0.12 on Monday, hitting $1.92. 1,019,210 shares of the stock traded hands, compared to its average volume of 1,406,349. The firm has a market cap of $93.61 million, a price-to-earnings ratio of -1.36, a PEG ratio of 0.06 and a beta of 1.20. Office Properties Income Trust has a 52 week low of $1.81 and a 52 week high of $8.80. The firm has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $4.24. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 1.27.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.98 by ($1.75). The firm 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 net margin of 13.01% and a negative return on equity of 5.28%. As a group, equities research analysts predict that Office Properties Income Trust will post 2.85 earnings per share for the current fiscal year.

Office Properties Income Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.04 annualized dividend and a yield of 2.08%. Office Properties Income Trust's payout ratio is -2.78%.

Office Properties Income Trust Company Profile

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.