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

Shares of Office Properties Income Trust (NASDAQ:OPI) gapped down prior to trading on Friday. The stock had previously closed at $17.59, but opened at $16.53. Office Properties Income Trust shares last traded at $16.8050, with a volume of 1,311 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings downgraded Office Properties Income Trust from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. Odeon Capital Group initiated coverage on shares of 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 shares of 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. Based on data from MarketBeat.com, Office Properties Income Trust currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Office Properties Income Trust Stock Performance

The business has a 50-day moving average price of $17.97. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.02 and a quick ratio of 1.02.

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

Insiders Place Their Bets

In other Office Properties Income Trust news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the business’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 completion of the transaction, the insider directly owned 3,961,992 shares of the company’s stock, valued at approximately $75,396,707.76. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 365,529 shares of company stock worth $7,066,249 in the last three months. 1.77% of the stock is currently owned by company insiders.

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.