Office Properties Income Trust (NASDAQ:OPI) Shares Gap Down - Here's Why

Key Points

• OPI shares dropped 4.9% at the open, falling from $17.73 to $16.85 before last trading at $16.83.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and a $27.00 average price target, although ratings include both a Strong Buy and a Sell.
• Major shareholder Redwood Capital Management sold 175,734 shares, while institutional investors own 64.41% of OPI and Tidal Investments increased its stake by 308.1% during the second quarter.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $17.73, but opened at $16.85. Office Properties Income Trust shares last traded at $16.83, with a volume of 339 shares traded.

Wall Street Analysts Forecast Growth

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

Office Properties Income Trust Trading Down 1.7%

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 firm's 50-day moving average is $18.02.

Insider Buying and Selling

In other news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $75,396,707.76. This trade represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 365,529 shares of company stock valued at $7,066,249.

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 lifted its stake in Office Properties Income Trust (NASDAQ:OPI - Free Report) by 308.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,785 shares of the company's stock after acquiring an additional 92,699 shares during the period. Tidal Investments LLC owned 0.17% of Office Properties Income Trust worth $30,000 at the end of the most recent quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

Office Properties Income Trust Company Profile

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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