Mirae Asset Global Investments Co. Ltd. Acquires 854,678 Shares of Office Properties Income Trust (NASDAQ:OPI)

Posted by Defense World Staff on Aug 5th, 2023

Mirae Asset Global Investments Co. Ltd. increased its holdings in Office Properties Income Trust (NASDAQ:OPI – Free Report) by 178.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,334,133 shares of the company’s stock after acquiring an additional 854,678 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 2.75% of Office Properties Income Trust worth $16,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Office Properties Income Trust by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,055,780 shares of the company’s stock valued at $207,276,000 after purchasing an additional 95,828 shares in the last quarter. State Street Corp increased its stake in Office Properties Income Trust by 1.2% during the 2nd quarter. State Street Corp now owns 3,227,826 shares of the company’s stock valued at $64,395,000 after purchasing an additional 39,680 shares in the last quarter. Invesco Ltd. increased its stake in Office Properties Income Trust by 40.2% during the 1st quarter. Invesco Ltd. now owns 1,478,889 shares of the company’s stock valued at $38,052,000 after purchasing an additional 424,364 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Office Properties Income Trust by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,080,514 shares of the company’s stock valued at $14,425,000 after purchasing an additional 90,331 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Office Properties Income Trust by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,067,970 shares of the company’s stock valued at $14,257,000 after purchasing an additional 24,598 shares in the last quarter. 77.85% of the stock is currently owned by institutional investors.

Office Properties Income Trust Stock Performance

Shares of OPI stock opened at $7.43 on Friday. The company has a 50 day moving average price of $7.79 and a 200-day moving average price of $10.56. Office Properties Income Trust has a 52 week low of $5.86 and a 52 week high of $20.80. The firm has a market capitalization of $361.02 million, a PE ratio of 33.77, a P/E/G ratio of 0.11 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.90.

Office Properties Income Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, July 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.46%. The ex-dividend date of this dividend is Friday, July 21st. Office Properties Income Trust’s payout ratio is 454.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Office Properties Income Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price target on shares of Office Properties Income Trust in a research note on Wednesday, July 19th.

Office Properties Income Trust Company Profile

(Free Report)

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 March 31, 2023, approximately 63% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 157 properties as of March 31, 2023, with approximately 20.9 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.