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

Key Points

• OPI shares gapped down from a prior close of $13.93 to open at $13.25, later trading near $13.34 on low volume.
• Analyst views are mixed, but MarketBeat reports a consensus “Moderate Buy” rating and a $27.00 price target, compared with the recent share price.
• The company reported a quarterly loss of $35.94 per share on $98.47 million in revenue, while insiders sold 365,529 shares worth approximately $7.1 million over the past three months.

Office Properties Income Trust (NASDAQ:OPI - Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $13.93, but opened at $13.25. Office Properties Income Trust shares last traded at $13.3410, with a volume of 302 shares changing hands.

Wall Street Analyst Weigh In

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

Office Properties Income Trust Trading Down 0.3%

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 company has a 50-day moving average price of $16.93.

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

Insider Activity at Office Properties Income Trust

In other news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $19.03, for a total value of $3,344,218.02. Following the completion of the sale, the insider directly owned 3,961,992 shares of the company's stock, valued at $75,396,707.76. This represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 365,529 shares of company stock valued at $7,066,249 over the last three months. Corporate insiders own 1.77% of the company's stock.

About Office Properties Income Trust

Office Properties Income Trust NASDAQ: OPI is a real estate investment trust focused on owning, leasing and managing office properties in the United States. Its portfolio has historically included buildings occupied by government entities, corporate tenants and other organizations, with properties located across a range of U.S. markets.

The company generates revenue primarily through rental income from office space. Its properties may include traditional office buildings, headquarters facilities and specialized government-occupied workplaces.

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