Office Properties Income Trust (NASDAQ:OPI) Shares Down 3.8% – Here’s What Happened

Office Properties Income Trust (NASDAQ:OPI)’s stock price traded down 3.8% during trading on Wednesday. The company traded as low as $15.70 and last traded at $15.9150. Approximately 7,501 shares were traded during mid-day trading, a decline of 98% from the average session volume of 334,342 shares. The stock had previously closed at $16.55.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OPI. Weiss Ratings lowered Office Properties Income Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Odeon Capital Group assumed coverage on Office Properties Income Trust in a report on Tuesday, July 7th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Wall Street Zen raised Office Properties Income Trust to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.00.

Office Properties Income Trust Stock Down 0.2%

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.29. The firm’s fifty day moving average price is $17.85.

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

Insider Transactions at Office Properties Income Trust

In other Office Properties Income Trust news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the company’s 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 sale, the insider owned 3,961,992 shares in the company, valued at approximately $75,396,707.76. This represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 365,529 shares of company stock valued at $7,066,249 over the last three months.

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.