Office Properties Income Trust (NASDAQ:OPI) Short Interest Down 37.6% in July

Office Properties Income Trust (NASDAQ:OPI) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 90,521 shares, a drop of 37.6% from the July 15th total of 145,099 shares. Based on an average daily trading volume, of 877,401 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Insider Activity at Office Properties Income Trust

In other news, major shareholder Redwood Capital Management, Ll sold 162,254 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $19.71, for a total transaction of $3,198,026.34. Following the completion of the transaction, the insider owned 4,165,267 shares in the company, valued at approximately $82,097,412.57. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 169,109 shares of company stock worth $3,328,376 in the last three months.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Office Properties Income Trust stock. Jane Street Group LLC grew its stake in shares of Office Properties Income Trust (NASDAQ:OPI) by 290.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 688,815 shares of the company’s stock after acquiring an additional 512,368 shares during the period. Jane Street Group LLC owned about 0.93% of Office Properties Income Trust worth $170,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Office Properties Income Trust Price Performance

Office Properties Income Trust stock traded down $0.24 during midday trading on Wednesday, hitting $18.76. The company’s stock had a trading volume of 17,388 shares, compared to its average volume of 505,786. Office Properties Income Trust has a 12 month low of $15.14 and a 12 month high of $27.80. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.29. The business’s 50-day simple moving average is $18.73.

Wall Street Analyst Weigh In

Several analysts recently commented on OPI shares. Wall Street Zen upgraded Office Properties Income Trust to a “hold” rating in a research report on Sunday, July 12th. Odeon Capital Group began coverage on shares of Office Properties Income Trust in a report on Tuesday, July 7th. They issued a “buy” rating and a $27.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Office Properties Income Trust Company Profile

Office Properties Income Trust (NASDAQ: OPI) is a real estate investment trust formed to acquire, own and manage single-tenant, net-leased office properties across the United States. Organized as a Maryland REIT, the company completed its initial public offering in 2020 and trades on the NASDAQ under the ticker “OPI.” Its investment strategy centers on free-standing office buildings leased on long-term, triple-net leases to creditworthy tenants, offering predictable cash flows and limited operational exposure.

The trust’s core activities include sourcing and underwriting acquisitions, overseeing property management and structuring lease agreements that transfer most property expenses to tenants.