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

Shares of Office Properties Income Trust (NASDAQ:OPI) gapped down before the market opened on Monday. The stock had previously closed at $13.93, but opened at $13.25. Office Properties Income Trust shares last traded at $13.3410, with a volume of 302 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Office Properties Income Trust to a “hold” rating in a research report on Sunday, July 12th. Odeon Capital Group initiated coverage on shares of Office Properties Income Trust in a research note on Tuesday, July 7th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Weiss Ratings cut shares of Office Properties Income Trust from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Office Properties Income Trust currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Office Properties Income Trust Price Performance

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 company has a 50 day moving average of $16.72.

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

Insider Activity at Office Properties Income Trust

In other news, major shareholder Redwood Capital Management, Ll sold 175,734 shares of the stock in a transaction 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 directly owned 3,961,992 shares of the company’s stock, valued at approximately $75,396,707.76. This represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 90 days.

About Office Properties Income Trust

Office Properties Income Trust (NASDAQ: OPI) is a real estate investment trust focused on owning, leasing and managing office properties in the United States. Its portfolio has historically included buildings occupied by government entities, corporate tenants and other organizations, with properties located across a range of U.S. markets.

The company generates revenue primarily through rental income from office space. Its properties may include traditional office buildings, headquarters facilities and specialized government-occupied workplaces.