Wilen Investment Management CORP. Acquires Shares of 8,594 Office Properties Income Trust (NASDAQ:OPI)

Wilen Investment Management CORP. acquired a new position in shares of Office Properties Income Trust (NASDAQ:OPI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,594 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds have also recently modified their holdings of the company. Capital Investment Advisory Services LLC purchased a new position in shares of Office Properties Income Trust during the first quarter worth about $27,000. Versant Capital Management Inc purchased a new position in shares of Office Properties Income Trust during the first quarter worth about $29,000. Sound Income Strategies LLC purchased a new position in shares of Office Properties Income Trust during the first quarter worth about $35,000. LS Investment Advisors LLC purchased a new position in shares of Office Properties Income Trust during the first quarter worth about $39,000. Finally, Truvestments Capital LLC purchased a new position in shares of Office Properties Income Trust during the first quarter worth about $44,000. 67.19% of the stock is currently owned by institutional investors.

OPI traded down $0.79 during trading on Friday, reaching $23.82. The company’s stock had a trading volume of 7,646 shares, compared to its average volume of 239,482. Office Properties Income Trust has a 52-week low of $23.36 and a 52-week high of $68.84. The firm has a market capitalization of $1.15 billion, a PE ratio of 2.96, a P/E/G ratio of 0.91 and a beta of 1.64. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.69.

Office Properties Income Trust (NASDAQ:OPI) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.16. Office Properties Income Trust had a return on equity of 0.95% and a net margin of 1.13%. The company had revenue of $174.80 million for the quarter, compared to analyst estimates of $177.83 million. During the same quarter in the previous year, the company earned $2.18 EPS. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, sell-side analysts predict that Office Properties Income Trust will post 5.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, April 29th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date of this dividend was Friday, April 26th. Office Properties Income Trust’s dividend payout ratio is presently 27.67%.

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Office Properties Income Trust to $27.00 and set an “underperform” rating on the stock in a report on Wednesday, March 13th. Zacks Investment Research raised Office Properties Income Trust from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, May 14th. ValuEngine lowered Office Properties Income Trust from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group raised Office Properties Income Trust from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $23.00 to $25.00 in a report on Wednesday, May 8th. They noted that the move was a valuation call.

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Office Properties Income Trust Company Profile

Office Properties Income Trust is a real estate investment trust, or REIT, which owns buildings primarily leased to single tenants and those with high credit quality characteristics like government entities. In December 2018, our predecessor company Government Properties Income Trust, or GOV, merged with Select Income REIT, or SIR, and the combined company was renamed Office Properties Income Trust, or OPI.

Further Reading: Special Dividends

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Institutional Ownership by Quarter for Office Properties Income Trust (NASDAQ:OPI)

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