B.Riley FBR analyst Bryan Maher reiterated a Buy rating on Office Properties Income Trust (OPI) today and set a price target of $50. The company’s shares opened today at $26.79, close to its 52-week low of $25.05.
Maher said:
“We are fine-tuning our estimates and reiterating our Buy rating and $50 price target on Trust (OPI) following the reporting of 4Q18 results. 4Q18 was very eventful for the REIT as Trust (GOV) completed its merger with Select Income REIT (SIR) on and re-branded itself as OPI. The REIT subsequently completed a 4:1 reverse stock split. From a standalone perspective, OPI (aka GOV) reported $1.56, while pro-forma for the merger, Normalized FFO/share came in at $1.03. Adjusted EBITDA in 4Q18 was $57.9M.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -0.9% and a 48.8% success rate. Maher covers the Financial sector, focusing on stocks such as Braemar Hotels & Resorts Inc, Condor Hospitality Trust Inc, and Community Healthcare Trust.
Currently, the analyst consensus on Office Properties Income Trust is a Hold with an average price target of $30.40.
See today’s analyst top recommended stocks >>
Based on Office Properties Income Trust’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $57.7 million. In comparison, last year the company had a GAAP net loss of $17.99 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Office Properties Income Trust owns, operates and leases office buildings to single tenants and multi-tenant buildings. The company was founded on February 17, 2009 and is headquartered in Newton, MA.
