B.Riley FBR analyst Bryan Maher reiterated a Buy rating on Office Properties Income Trust (OPI) yesterday and set a price target of $50. The company’s shares opened today at $30.57, close to its 52-week low of $25.05.
Maher observed:
“Trust (OPI-Buy, $50 PT) reported results for 4Q18, a very eventful quarter for the REIT in which Trust (GOV) completed its merger with Select Income REIT (SIR) on and re-branded itself as Trust. From a standalone perspective, OPI (formerly GOV) reported Normalized FFO/ share of $1.56, while pro-forma for the merger, Normalized FFO/share came in at $1.03. Adjusted EBITDA for the quarter was $57.9M. Given all of the accounting noise surrounding the merger and its related activities, we had elected to publish annual results for the consolidated entity beginning January 1, 2019, which can be seen in our report published January 7, 2019.”
According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.1% and a 52.0% success rate. Maher covers the Financial sector, focusing on stocks such as Braemar Hotels & Resorts Inc, Community Healthcare Trust, and Ashford Hospitality Trust.
Currently, the analyst consensus on Office Properties Income Trust is a Hold with an average price target of $31.25.
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Based on Office Properties Income Trust’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $449K. In comparison, last year the company had a GAAP net loss of $17.99 million.
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Office Properties Income Trust operates as a real estate investment trust, which engages in the business of owning and maintaining properties. It operates through thefollowing business segments: Investment in Real Estate, Investment in SIR, and Corporate. The company was founded on February 17, 2009 and is headquartered in Newton, MA.
