Office Properties Income Trust (NASDAQ:OPI) Shares Down 3.8% - Here's What Happened

Key Points

• Office Properties Income Trust shares fell 3.8% to about $15.92 in mid-day trading, while trading volume plunged 98% below the average daily level.
• Analyst sentiment remains mixed: the stock has a “Moderate Buy” consensus rating and a $27.00 average price target, despite one sell rating and one strong-buy rating.
• The company reported a quarterly loss of $35.94 per share on $98.47 million in revenue, while insiders sold approximately 365,529 shares worth $7.07 million during the last quarter.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) shares dropped 3.8% during mid-day trading on Wednesday. The company traded as low as $15.70 and last traded at $15.9150. 7,501 shares traded hands during trading, a decline of 98% from the average daily volume of 334,342 shares. The stock had previously closed at $16.55.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OPI. Wall Street Zen upgraded shares of Office Properties Income Trust to a "hold" rating in a report on Sunday, July 12th. Odeon Capital Group initiated coverage on shares of Office Properties Income Trust in a report on Tuesday, July 7th. They set a "buy" rating and a $27.00 price objective for the company. Finally, Weiss Ratings cut shares of Office Properties Income Trust from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, September 16th. One equities 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.00.

Office Properties Income Trust Trading Down 0.2%

The company has a debt-to-equity ratio of 3.29, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50-day simple moving average is $17.85.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($35.94) earnings per share (EPS) for the quarter. The firm had revenue of $98.47 million during the quarter.

Insider Transactions at Office Properties Income Trust

In other Office Properties Income Trust news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $19.03, for a total transaction of $3,344,218.02. Following the transaction, the insider directly owned 3,961,992 shares in the company, valued at $75,396,707.76. This represents a 4.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 365,529 shares of company stock worth $7,066,249.

About Office Properties Income Trust

Office Properties Income Trust NASDAQ: OPI is a real estate investment trust that owns and leases office properties in the United States. The company generates revenue primarily by renting office space to government entities, government-related organizations and private-sector businesses.

Its portfolio has historically included properties in major metropolitan areas and state capitals, with tenants spanning federal, state and local government agencies, as well as commercial organizations.

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