Streetbeat News

OPI

Office Properties Income Trust

https://www.opireit.com/home/default.aspx

Industry

REIT - Office

OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

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Office Properties Income Trust (NASDAQ: OPI) reported Q2 2024 earnings per share of $0.68, beating the analyst estimate of $0.64. The company also reported sales of $123.686 million, slightly above the $123.601 million estimate. However, sales decreased by 7.69% compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:51 pm

Mortgage rates have hit their lowest point since February 2024, driven by investor expectations of upcoming Fed rate cuts. Despite this, mortgage demand remains inconsistent, with a recent decline in mortgage applications. The Vanguard Real Estate ETF (VNQ) remained flat, while the SPDR Homebuilders ETF (XHB) fell 0.5% and the VanEck Mortgage REIT Income ETF (MORT) rose 0.5%. Several real estate stocks, including Gladstone Land Corporation (LAND) and Compass, Inc. (COMP), saw significant declines in premarket trading.

Portfolio Pulse from Piero Cingari

July 24, 2024 | 12:57 pm

US home sales experienced a significant decline of 5.4% in June 2024, the sharpest monthly drop in 1.5 years, due to record high prices. The median home price reached an all-time high of $426,900. Real estate stocks showed mixed reactions, with some gaining and others declining.

Portfolio Pulse from Piero Cingari

July 23, 2024 | 2:46 pm

B. Riley Securities analyst Bryan Maher maintains a Buy rating on Office Props IT (NASDAQ:OPI) but lowers the price target from $10 to $7.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:29 pm

Office Properties Income Trust (OPI) shares surged following the announcement of Q1 revenue results that exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:52 pm

Office Props IT (NASDAQ:OPI) reported Q1 2024 FFO of $0.79 per share, missing the $0.81 estimate, and sales of $139.435M, beating the $129.768M estimate. This represents a 27.52% decrease in earnings and a 5.30% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:51 pm

With interest rates at their highest in over two decades, investors are increasingly turning to corporate bonds, seeking higher yields and diversification from equities. Investment-grade bonds, issued by stable companies, offer safer investment options compared to high-yield bonds from riskier firms. Companies like Nvidia, Amazon, Apple, Eli Lilly, and Walt Disney are rated as investment grade, while AMC Entertainment, Office Property Income Trust, and Navient Corporation are considered speculative grade. The article lists the top 10 investment-grade corporate bonds with the highest yields as of April 2024, including issuers like Prospect Capital, Piedmont Office Realty Trust, Td Synnex Corp, Charter Communications, Vornado Realty Trust, Ford Motor Co, Monsanto (owned by Bayer A.G.), Vici Properties, Ally Financial, and Concentrix Corp.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 4:24 pm

U.S. high-yield corporate bonds are attracting investors with returns over 20% as interest rates remain high. The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has seen a 10% increase since October 2023. High-yield bonds, also known as junk bonds, are issued by companies with lower credit ratings and come with higher risks. The top 10 high-yielding bonds as of April 2024 include issues from AMC Entertainment Holdings (AMC), Hughes Satellite Systems Corp. (SATS), Dish Network Corporation, Lumen Technologies Inc. (LUMN), and Office Properties Income Trust (OPI).

Portfolio Pulse from Piero Cingari

April 04, 2024 | 6:59 pm

Morgan Stanley analyst Ronald Kamdem has maintained an Underweight rating on Office Props IT (NASDAQ:OPI) and lowered the price target from $1.8 to $1.6.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:03 pm

The Federal Reserve's indication of potential interest rate cuts in 2024 and 2025 has sparked a rally in the real estate sector, particularly benefiting stocks with high debt levels or exposure to the office industry. The Vanguard Real Estate ETF (VNQ) and the VanEck Office And Commercial Real Estate ETF (DESK) saw increases, along with significant gains for City Office REIT (CIO), Compass Inc. (COMP), Office Properties Income Trust (OPI), Anywhere Real Estate Inc. (HOUS), and Vornado Realty Trust (VNO).

Portfolio Pulse from Piero Cingari

March 21, 2024 | 9:29 pm

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