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.

Open

1.21

Mkt cap

65M

Volume

1.1M

High

1.22

P/E Ratio

-9.67

52-wk high

7.53

Low

1.16

Div yield

0.04

52-wk low

1.16

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

Investor interest in high-yielding corporate bonds is increasing as expectations grow for the Federal Reserve to cut rates later this year. This trend is driven by a desire to lock in high interest rates and a change in Moody's rating approach, boosting demand for riskier, high-yield bonds. Companies like AMC Entertainment, Stanley Black & Decker, and Teledyne Technologies are among those offering the highest yields, indicating a higher risk of default but potentially higher returns for investors.

Portfolio Pulse from Adam Eckert

March 18, 2024 | 6:21 pm

The article highlights the top 3 oversold real estate stocks, which are Office Properties Income Trust (OPI), Orion Office REIT Inc. (ONL), and City Office REIT, Inc. (CIO), based on their RSI values indicating potential undervaluation. OPI reported positive quarterly sales but saw a significant price drop. ONL faced a decline after posting worse-than-expected financial results and a disappointing FY24 Core FFO guidance. CIO also experienced a decrease in stock price following downbeat quarterly sales, despite positive leasing activity momentum.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 12:26 pm

The commercial real estate (CRE) sector faces a refinancing challenge with $929 billion of mortgages maturing in 2024 amid high interest rates. The U.S. CRE market has seen a significant drop in transactions and rising delinquencies, especially in office and industrial leasing. Goldman Sachs reports a diverse composition of maturing CRE debt, with office properties showing the highest delinquency rates. The VanEck Office And Commercial REIT ETF (DESK) and stocks like OPI, ONL, and HPP have experienced notable declines.

Portfolio Pulse from Piero Cingari

February 28, 2024 | 6:23 pm

Office Props IT (OPI) reported a decrease in Q4 FFO to $0.95 per share from $1.13 YoY, but sales increased to $133.77M, beating estimates by 0.50% and marking a 4.57% increase YoY.

Portfolio Pulse from totan@benzinga.com

February 15, 2024 | 9:24 pm

Numerous companies are scheduled to report their earnings on February 15, 2024, covering a wide range of industries from technology to energy, and including both earnings and losses. Key companies reporting include Cognex, Cenovus Energy, Wendy's, Agios Pharmaceuticals, Appian, and many others, with expectations of both profits and losses.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 10:17 am

Office Properties Income Trust (NASDAQ:OPI) has priced $300 million of 9.000% senior secured notes due 2029, secured by 17 office properties and subsidiary equity interests. The proceeds, along with borrowings, will redeem $350 million 4.250% Senior Unsecured Notes due 2024. The redemption aims to manage debt by replacing higher-cost unsecured notes with lower-cost secured notes, indicating a strategic financial maneuver to optimize its capital structure.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 7:00 am

Boston Props (NYSE:BXP) is distributing a dividend of $0.98 per share with a 5.49% yield. Shareholders eligible for the payout owned the stock before December 28, 2023. The company has maintained a steady dividend per share of $3.92 from 2020 to 2023 and experienced earnings growth from $6.79 to $7.31 per share, indicating financial health and potential for continued profit sharing with investors. Office Props IT (NASDAQ:OPI) has a higher yield at 20.65%.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:05 pm

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