Office Properties Income Trust (NASDAQ:OPI) Major Shareholder Redwood Capital Management, Ll Sells 162,254 Shares

Key Points

• Redwood Capital Management sold 162,254 OPI shares at an average price of $19.71, generating approximately $3.20 million. The sale reduced its position by 3.75% to 4.17 million shares.
• OPI shares opened at $18.62, with a 12-month trading range of $15.14 to $27.80. Analysts assign the stock a “Moderate Buy” consensus rating and a $27.00 average price target.
• Jane Street Group increased its OPI stake by 290.4% in the second quarter to 688,815 shares, while institutional investors collectively own 64.41% of the company.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) major shareholder Redwood Capital Management, Ll sold 162,254 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $19.71, for a total transaction of $3,198,026.34. Following the completion of the sale, the insider directly owned 4,165,267 shares of the company's stock, valued at $82,097,412.57. This represents a 3.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Office Properties Income Trust Price Performance

Shares of OPI stock opened at $18.62 on Friday. Office Properties Income Trust has a 12 month low of $15.14 and a 12 month high of $27.80.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Office Properties Income Trust

A hedge fund recently raised its stake in Office Properties Income Trust stock. Jane Street Group LLC raised its position in Office Properties Income Trust (NASDAQ:OPI - Free Report) by 290.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688,815 shares of the company's stock after acquiring an additional 512,368 shares during the quarter. Jane Street Group LLC owned approximately 0.93% of Office Properties Income Trust worth $170,000 as of its most recent SEC filing. Institutional investors own 64.41% of the company's stock.

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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