Pictet Asset Management Ltd. raised its position in Office Properties Income Trust (NASDAQ:OPI) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,406 shares of the company’s stock after purchasing an additional 1,567 shares during the period. Pictet Asset Management Ltd.’s holdings in Office Properties Income Trust were worth $247,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in OPI. Bank of Montreal Can bought a new stake in Office Properties Income Trust during the 1st quarter valued at approximately $360,000. Rhumbline Advisers bought a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $4,214,000. Comerica Bank bought a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $1,365,000. Texas Permanent School Fund bought a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $902,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Office Properties Income Trust in the 1st quarter worth about $285,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Office Properties Income Trust stock traded up $0.33 during mid-day trading on Friday, reaching $29.71. The company’s stock had a trading volume of 108,154 shares, compared to its average volume of 236,903. Office Properties Income Trust has a 12-month low of $23.36 and a 12-month high of $47.76. The company has a market capitalization of $1.41 billion, a P/E ratio of 3.74 and a beta of 1.65. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average price is $27.81 and its two-hundred day moving average price is $27.02.

Office Properties Income Trust (NASDAQ:OPI) last announced its earnings results on Friday, August 2nd. The company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.32. Office Properties Income Trust had a negative net margin of 15.86% and a negative return on equity of 4.92%. The business had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $156.50 million. On average, research analysts predict that Office Properties Income Trust will post 5.88 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Office Properties Income Trust from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. ValuEngine upgraded shares of Office Properties Income Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Morgan Stanley set a $27.00 price target on shares of Office Properties Income Trust and gave the company a “hold” rating in a research note on Monday, June 17th. Finally, Royal Bank of Canada upgraded shares of Office Properties Income Trust from an “underperform” rating to a “sector perform” rating and set a $27.00 price target on the stock in a research note on Friday, June 28th. Five research analysts have rated the stock with a hold rating, Office Properties Income Trust currently has an average rating of “Hold” and a consensus price target of $27.50.

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.

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

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