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

Key Points

• OPI shares gapped down from a prior close of $17.59 to open at $16.53, later trading near $16.81 on light volume.
• Analyst sentiment was mixed: Weiss Ratings downgraded the stock to “sell (d-),” while Odeon Capital initiated coverage with a “buy” rating and a $27 price target; the overall consensus remained “Moderate Buy.”
• The company reported a quarterly loss of $35.94 per share on $98.47 million in revenue, while major shareholder Redwood Capital Management sold 175,734 shares and insiders sold roughly $7.1 million worth of stock over three months.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) shares gapped down prior to trading on Friday. The stock had previously closed at $17.59, but opened at $16.53. Office Properties Income Trust shares last traded at $16.8050, with a volume of 1,311 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Office Properties Income Trust from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, September 16th. Wall Street Zen raised Office Properties Income Trust to a "hold" rating in a research report on Sunday, July 12th. Finally, Odeon Capital Group began coverage on Office Properties Income Trust in a research note on Tuesday, July 7th. They set a "buy" rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Office Properties Income Trust currently has an average rating of "Moderate Buy" and an average target price of $27.00.

Office Properties Income Trust Trading Up 0.1%

The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.02 and a current ratio of 1.02. The firm's fifty day moving average price is $17.97.

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

Insider Activity

In other news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of Office Properties Income Trust stock in a transaction 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 completion of the sale, the insider directly owned 3,961,992 shares in the company, valued at approximately $75,396,707.76. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 365,529 shares of company stock valued at $7,066,249 over the last three months. Company insiders own 1.77% of the company's stock.

Office Properties Income Trust Company Profile

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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