Office Properties Income Trust (NASDAQ:OPI) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Office Properties Income Trust (NASDAQ:OPI) by 42.8% in the third quarter, HoldingsChannel reports. The fund owned 557,107 shares of the company’s stock after purchasing an additional 167,031 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Office Properties Income Trust were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Point72 DIFC Ltd acquired a new position in shares of Office Properties Income Trust in the 2nd quarter valued at $34,000. Vanguard Personalized Indexing Management LLC increased its holdings in Office Properties Income Trust by 40.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,758 shares of the company’s stock valued at $34,000 after buying an additional 4,798 shares in the last quarter. Optas LLC acquired a new position in shares of Office Properties Income Trust in the second quarter worth about $34,000. Summit Securities Group LLC purchased a new stake in shares of Office Properties Income Trust during the 2nd quarter worth about $55,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Office Properties Income Trust by 32.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,686 shares of the company’s stock valued at $91,000 after acquiring an additional 10,900 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Stock Performance

OPI opened at $1.72 on Wednesday. The firm’s fifty day simple moving average is $1.79 and its two-hundred day simple moving average is $2.10. Office Properties Income Trust has a 52-week low of $1.06 and a 52-week high of $7.53. The company has a market cap of $95.94 million, a price-to-earnings ratio of -3.82 and a beta of 1.18. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.82.

Office Properties Income Trust (NASDAQ:OPI) last issued its quarterly 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). Office Properties Income Trust had a negative net margin of 4.75% and a negative return on equity of 1.92%. The company had revenue of $120.62 million during the quarter, compared to analysts’ expectations of $119.93 million. Equities analysts anticipate that Office Properties Income Trust will post 2.26 earnings per share for the current fiscal year.

Office Properties Income Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, October 28th. Office Properties Income Trust’s payout ratio is -8.89%.

Analyst Ratings Changes

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

Office Properties Income Trust 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.