Office Properties Income Trust (NASDAQ:OPI) to Issue Quarterly Dividend of $0.01

Office Properties Income Trust (NASDAQ:OPI) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Shareholders of record on Monday, April 22nd will be given a dividend of 0.01 per share on Thursday, May 16th. This represents a $0.04 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, April 19th.

Office Properties Income Trust has decreased its dividend payment by an average of 16.1% per year over the last three years. Office Properties Income Trust has a payout ratio of -1.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Office Properties Income Trust to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.7%.

Office Properties Income Trust Price Performance

OPI opened at $1.89 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average price of $2.51 and a 200-day moving average price of $4.19. Office Properties Income Trust has a 12-month low of $1.81 and a 12-month high of $8.80.

Office Properties Income Trust (NASDAQ:OPI) last released its earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($1.75). Office Properties Income Trust had a negative return on equity of 5.28% and a negative net margin of 13.01%. The firm had revenue of $133.77 million during the quarter, compared to the consensus estimate of $133.03 million. As a group, equities analysts expect that Office Properties Income Trust will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new stake in Office Properties Income Trust during the 3rd quarter valued at $27,000. Bessemer Group Inc. purchased a new stake in shares of Office Properties Income Trust during the fourth quarter worth about $43,000. Garner Asset Management Corp purchased a new stake in shares of Office Properties Income Trust during the fourth quarter worth about $61,000. Tower Research Capital LLC TRC grew its stake in shares of Office Properties Income Trust by 104.1% in the third quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,266 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Office Properties Income Trust during the 2nd quarter valued at about $87,000. Institutional investors own 64.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OPI. StockNews.com lowered shares of Office Properties Income Trust from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Morgan Stanley reduced their price objective on Office Properties Income Trust from $1.80 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday, March 28th.

Office Properties Income Trust Company Profile

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S. markets. As of December 31, 2023, approximately 64% of OPI's revenues were from investment grade rated tenants. OPI owned 152 properties as of December 31, 2023, with approximately 20.5 million square feet located in 30 states and Washington, DC In 2023, OPI was named as an Energy Star® Partner of the Year for the sixth consecutive year.