Littlejohn & Co. LLC Takes Position in Office Properties Income Trust (NASDAQ:OPI)

Littlejohn & Co. LLC acquired a new position in Office Properties Income Trust (NASDAQ:OPI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 90,897 shares of the company’s stock, valued at approximately $198,000. Office Properties Income Trust accounts for 0.1% of Littlejohn & Co. LLC’s investment portfolio, making the stock its 11th largest position. Littlejohn & Co. LLC owned about 0.16% of Office Properties Income Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OPI. Connor Clark & Lunn Investment Management Ltd. increased its position in Office Properties Income Trust by 42.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 557,107 shares of the company’s stock worth $1,214,000 after buying an additional 167,031 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Office Properties Income Trust during the 3rd quarter worth approximately $704,000. Point72 DIFC Ltd purchased a new position in Office Properties Income Trust during the second quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Office Properties Income Trust in the second quarter worth approximately $145,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Office Properties Income Trust by 104.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 141,726 shares of the company’s stock worth $289,000 after purchasing an additional 72,530 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Office Properties Income Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th.

Office Properties Income Trust Price Performance

OPI stock opened at $1.14 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.89 and a current ratio of 1.89. Office Properties Income Trust has a 1-year low of $1.06 and a 1-year high of $7.53. The business has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $2.10.

Office Properties Income Trust (NASDAQ:OPI) last issued its earnings results on Wednesday, October 30th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.61). The company had revenue of $120.62 million for the quarter, compared to the consensus estimate of $119.93 million. Office Properties Income Trust had a negative return on equity of 1.92% and a negative net margin of 4.75%. As a group, equities analysts anticipate that Office Properties Income Trust will post 2.26 earnings per share for the current fiscal year.

Office Properties Income Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 3.51%. Office Properties Income Trust’s dividend payout ratio (DPR) is -8.89%.

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.