Office Pptys Income Tr Stock Price, News & Analysis

Office Properties Income Trust (Nasdaq: OPI) has successfully acquired two Class A office properties totaling $550 million. The first property, 1K Fulton in Chicago, priced at $355 million, is 99% leased, primarily to Google, with a 4.7% cap rate. The second property, Twelve24 in Atlanta, acquired for $195 million, is 98% leased to Insight Global with a cap rate of 6.3%. Funded through cash and a $350 million credit facility, OPI aims to sell non-core properties to repay the facility. These acquisitions align with OPI's strategy to enhance portfolio metrics and cash flows.

Office Properties Income Trust (Nasdaq: OPI) held its 2021 Annual Meeting of Shareholders, resulting in key re-elections and approvals. William A. Lamkin was re-elected as an Independent Trustee with 96.1% of votes, while Elena B. Poptodorova received 71.0%. An advisory vote on executive compensation was approved with 93.3% support. Shareholders ratified Deloitte & Touche LLP as independent auditors with 99.0% approval. Additionally, Jennifer B. Clark was elected as a Managing Trustee, enhancing the board's gender diversity to 50% female.

Office Properties Income Trust (Nasdaq: OPI) will have its President, Chris Bilotto, and CFO, Matt Brown, presenting at Nareit’s REITweek: 2021 Virtual Investor Conference on June 10, 2021, at 11:15 a.m. ET. Interested parties can register for free to access the live presentation.

OPI, a real estate investment trust, specializes in properties mainly leased to single tenants, including government entities. The company is managed by The RMR Group Inc., based in Newton, Massachusetts.

Office Properties Income Trust (Nasdaq: OPI) has priced a public offering of $300 million in 2.650% senior notes due 2026. The settlement is expected on May 18, 2021, subject to customary conditions. The proceeds will primarily be used for general business purposes, potentially including the redemption of $310 million of its 5.875% Senior Notes due 2046. The offering is conducted under an effective shelf registration statement filed with the SEC.

Office Properties Income Trust (Nasdaq: OPI) reported a net income of $37.9 million for Q1 2021, a significant increase from $10.8 million in Q1 2020. This includes a $54 million gain from real estate sales, despite a $7.7 million impairment loss. Rent collections averaged over 99%, with 575,000 square feet in new and renewed leasing at a 3.2% rent increase. OPI maintains strong liquidity with over $930 million available. However, Same Property Cash Basis NOI declined by 1.8%, largely due to lower parking revenues impacted by the pandemic. OPI also plans to acquire properties in Boston for $27 million.

Office Properties Income Trust (Nasdaq: OPI) has announced a quarterly cash distribution of $0.55 per common share, totaling $2.20 per share annually. This payment is set for May 20, 2021, for shareholders on record as of April 26, 2021. OPI is a real estate investment trust focusing on high-quality, single-tenant properties, including government-leased entities. The distribution's continuity is dependent on various factors assessed by OPI’s Board of Trustees, with no guarantee of future dividend rates.

Office Properties Income Trust (Nasdaq: OPI) plans to release its first quarter 2021 financial results on April 29, 2021, after market close. A conference call, featuring President Christopher Bilotto and CFO Matthew Brown, will occur on April 30, 2021, at 10:00 a.m. ET. Participants can join the call via telephone at (877) 328-1172 or (412) 317-5418 for international callers. A live audio webcast will also be available on the company’s website, with an archive accessible post-call.

OPI, a Maryland-based REIT, focuses on single-tenant properties leased to high-quality entities, including government organizations.

Office Properties Income Trust (OPI) reported mixed results for the quarter and year ending December 31, 2020. The company recorded a net loss of $1.7 million, or $0.03 per diluted share, compared to a net income of $65 million, or $1.35 per share in Q4 2019. However, Normalized FFO per share was $1.28, slightly lower than $1.38 the previous year. OPI maintained strong rent collections at approximately 99% and achieved a 6.5% year-over-year increase in cash available for distribution (CAD). Leasing activity remained robust, with over two million square feet leased and a rental rate increase of 6.9%.