Office Properties Income Trust (NASDAQ:OPI) Shares Down 5.6% - Here's What Happened

Key Points

• Office Properties Income Trust shares fell 5.6% on Friday, trading as low as $17.71 amid a surge in volume to 2.39 million shares, far above its average daily volume.
• Analyst sentiment was mixed but still constructive overall, with recent updates including a strong-buy and a buy rating, while one analyst moved to hold; the consensus target price is $27.00.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding about 64.41% of the stock, including a large stake increase by Tidal Investments LLC in the second quarter.

Shares of Office Properties Income Trust (NASDAQ:OPI - Get Free Report) dropped 5.6% on Friday . The stock traded as low as $17.71 and last traded at $17.7490. 2,390,732 shares traded hands during mid-day trading, an increase of 349% from the average session volume of 532,677 shares. The stock had previously closed at $18.81.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Odean Cap Resea raised Office Properties Income Trust to a "strong-buy" rating in a report on Tuesday, July 7th. Odeon Capital Group assumed coverage on shares of Office Properties Income Trust in a research report on Tuesday, July 7th. They issued a "buy" rating and a $27.00 price objective for the company. Finally, Wall Street Zen raised Office Properties Income Trust to a "hold" rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.

Office Properties Income Trust Trading Down 2.5%

The company has a debt-to-equity ratio of 2.22, a current ratio of 2.33 and a quick ratio of 2.33. The stock has a market capitalization of $1.36 billion, a P/E ratio of -3.77 and a beta of 1.71.

Hedge Funds Weigh In On Office Properties Income Trust

An institutional investor recently raised its stake in Office Properties Income Trust stock. Tidal Investments LLC boosted its holdings in shares of Office Properties Income Trust (NASDAQ:OPI - Free Report) by 308.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,785 shares of the company's stock after acquiring an additional 92,699 shares during the period. Tidal Investments LLC owned about 0.17% of Office Properties Income Trust worth $30,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.