Office Properties Income Trust | REIT Profile
Symbol: OPI
Exchange: NASDAQ
Founded: 2019 (6 years)
HQ: Newton, MA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Office
Externally Managed REIT
See OPI on Yahoo Finance
See OPI on SEC.gov
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OPI is a national REIT focused on owning and leasing office properties to high credit quality tenants in markets throughout the United States. As of September 30, 2024, approximately 59% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 145 properties as of September 30, 2024, with 19.5 million square feet located in 30 states and Washington, D.C. In 2024, OPI was named as an Energy Star® Partner of the Year for the seventh consecutive year. Office Properties Income Trust is included in 122 market indices and comprises more than 1% of the following indices as of September 30, 2024: Bloomberg US Micro Cap Real Estate Price Return Index (BMICR), Invesco S&P SmallCap High Dividend Low Volatility ETF INAV Index (XSHDIV) and Bloomberg Real Estate Investment Trust Small Cap Index (BBRESMLC).
Stock Chart
REITRating™ Trend
REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.
Dividend of Trading Day 2025-08-15 [Dividends Currently Suspended]
Annualized Dividend:
Dividend Yield (TTM):
Annualized Dividend (TTM):
Ex-Dividend Date: 2025-04-22
Dividend Date: 2025-05-15
Dividend Frequency: Quarterly
REITBOT™ Alert
Dividends have been suspended for this REIT.
*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.
Latest REIT Press Releases
- Office Properties Income Trust - Office Properties Income Trust Announces Second Quarter 2025 Results - Wed, 30 Jul 2025 20:30:24 UTC
- Office Properties Income Trust - Office Properties Income Trust Suspends Quarterly Distribution to Preserve Cash - Thu, 10 Jul 2025 12:00:56 UTC
- Office Properties Income Trust - Office Properties Income Trust Elects Timothy Pohl to Board of Trustees - Thu, 12 Jun 2025 20:15:20 UTC
- Office Properties Income Trust - Office Properties Income Trust Announces First Quarter 2025 Results - Wed, 30 Apr 2025 20:15:46 UTC
- Office Properties Income Trust - Office Properties Income Trust Announces Quarterly Dividend on Common Shares - Thu, 10 Apr 2025 20:30:35 UTC
Funds From Operations (FFO)
FFO Amount and Payout Ratio
Below are the FFO amounts, dividends, and payout ratios for the last two quarters for OPI.
| Year | Quarter | Type | Amount | Dividend Paid | Payout Ratio |
|---|---|---|---|---|---|
| 2025 | Q1 | Normalized FFO | $0.06 | $0.01 | 16.67% |
| 2025 | Q1 | Normalized FFO | $0.06 | $0.01 | 16.67% |
| 2025 | Q1 | FFO | $0.05 | $0.01 | 20.00% |
| 2024 | Q4 | FFO | -$1.34 | $0.01 | -0.75% |
REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information. The “Payout Ratio” is calculated by dividing the “Dividends Paid” column by the “FFO Amount” column. Some REITs may have two types of FFO (eg. FFO and Modified FFO) while others may have just one type of FFO.
Dividend to Normalized FFO & Normalized FFO Payout Ratio
REITNotes' Dividend to FFO Payout Ratio graph is based on the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.
Stock Price to Normalized FFO & Normalized FFO Multiples (TTM)
REITNotes' Price to FFO (P/FFO) Multiples graph is calculated by dividing the REIT’s closing stock price for the day by the Trailing Twelve Month (TTM) Funds from Operations (FFO). For some REITs we also display the Price-to-Adjusted Funds From Operations (P/AFFO), Price-to-Core FFO (P/CFFO), Price-to-Normalized FFO (P/NFFO), Price-to-Modified FFO (P/MFFO), Price-to-Operating (P/FFO), depending on the data provided in the REIT’s Quarterly Earning Reports.
As you may be familiar with, the price-to-earnings ratio (P/E ratio) is a useful tool for investors to gauge the market's valuation of a company’s stock price. The price-to-FFO ratio (or multiple) is a comparable measure used in the REIT industry that compares the REIT’s stock price to its FFO per share instead of its earnings per share (EPS).
Key Stats of Trading Day 2025-08-15
EBITDA: $235,662,000 [?]
P/E (Price-to-Earnings) Ratio: N/A [?]
PEG (Price/Earnings to Growth) Ratio: N/A [?]
Book Value: 14.41 [?]
Dividend Per Share (DPS): $0.03 [?]
Earnings Per Share (EPS): -5.32 [?]
Revenue Per Share (TTM): $7.45 [?]
Profit Margin: -63.00% [?]
Operating Margin (TTM): 14.70% [?]
Return on Equity (TTM): -24.60% [?]
Revenue (TTM): $466,972,000 [?]
Gross Profit (TTM): $382,666,000 [?]
Diluted EPS (TTM): $-5.32 [?]
Quarterly Earnings Growth YOY: -63.00% [?]
Quarterly Revenue Growth YOY: -7.40% [?]
Trailing P/E: N/A [?]
Forward P/E: N/A [?]
Beta: 1.56 [?]
Price-to-Book (P/B): 0.02 [?]
Enterprise Value (EV) to Revenue: 4.96 [?]
EV to EBITDA: 27.40x [?]
Shares Outstanding: 73,976,000 [?]
52 Week High: $2.36 [?]
52 Week Low: $0.18 [?]
50 Day Moving Average: $0.25 [?]
200 Day Moving Average: $0.70 [?]
Occupancy Rate
Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.
REIT Simulation
Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.
| With $1,000 USD | With $500 USD | With $250 USD | With $100 USD | With $50 USD | |
|---|---|---|---|---|---|
| Initial investment | @ $2.14 per share you would have been able to buy 467 shares of OPI on 2024-08-16 costing $999.38 | @ $2.14 per share you would have been able to buy 233 shares of OPI on 2024-08-16 costing $498.62 | @ $2.14 per share you would have been able to buy 116 shares of OPI on 2024-08-16 costing $248.24 | @ $2.14 per share you would have been able to buy 46 shares of OPI on 2024-08-16 costing $98.44 | @ $2.14 per share you would have been able to buy 23 shares of OPI on 2024-08-16 costing $49.22 |
| Current worth | On 2025-08-15 these 467 shares would be worth $113.01 @ $0.24 | On 2025-08-15 these 233 shares would be worth $56.39 @ $0.24 | On 2025-08-15 these 116 shares would be worth $28.07 @ $0.24 | On 2025-08-15 these 46 shares would be worth $11.13 @ $0.24 | On 2025-08-15 these 23 shares would be worth $5.57 @ $0.24 |
| Dividends earned | $14.01 in dividends would have been earned since 2024-08-16 with 467 shares. | $7 in dividends would have been earned since 2024-08-16 with 233 shares. | $3.48 in dividends would have been earned since 2024-08-16 with 116 shares. | $1.38 in dividends would have been earned since 2024-08-16 with 46 shares. | $0.69 in dividends would have been earned since 2024-08-16 with 233 shares. |
| Net (gain / loss)* | -872.36 USD | -435.24 USD | -216.69 USD | -85.93 USD | -42.96 USD |
| ROI** | -87.29% | -87.29% | -87.29% | -87.29% | -87.29% |
*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.
Dividend History [Dividends Currently Suspended]
Below are the most recent cash dividends paid by OPI. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.
| Symbol | Ex Date | Cash Amount | Change in Dividend | Declaration Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| OPI | 2025-04-22 | 0.010 | --- | 2025-04-10 | 2025-04-22 | 2025-05-15 |
| OPI | 2025-01-27 | 0.010 | --- | 2025-01-16 | 2025-01-27 | 2025-02-20 |
| OPI | 2024-10-28 | 0.010 | --- | 2024-10-16 | 2024-10-28 | 2024-11-14 |
| OPI | 2024-07-22 | 0.010 | --- | 2024-07-11 | 2024-07-22 | 2024-08-15 |
| OPI | 2024-04-19 | 0.010 | --- | 2024-04-11 | 2024-04-22 | 2024-05-16 |
| OPI | 2024-01-19 | 0.010 | -96.00% | 2024-01-11 | 2024-01-22 | 2024-02-15 |
| OPI | 2023-10-20 | 0.250 | --- | 2023-10-12 | 2023-10-23 | 2023-11-16 |
| OPI | 2023-07-21 | 0.250 | --- | 2023-07-13 | 2023-07-24 | 2023-08-17 |
| OPI | 2023-04-21 | 0.250 | -54.55% | 2023-04-13 | 2023-04-24 | 2023-05-18 |
| OPI | 2023-01-20 | 0.550 | --- | 2023-01-12 | 2023-01-23 | 2023-02-16 |
| OPI | 2022-10-21 | 0.550 | --- | 2022-10-13 | 2022-10-24 | 2022-11-17 |
| OPI | 2022-07-22 | 0.550 | --- | 2022-07-14 | 2022-07-25 | 2022-08-18 |
Financial Statements Overview
Balance Sheet | Quarterly
| Assets | 2025-06-30 | 2025-03-31 | QoQ |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents at Carrying Value | 78,176,000 | 63,745,000 | |
| Short-Term Investments | 0 | 0 | |
| Cash and Short Term Investments | 78,176,000 | 63,745,000 | |
| Current Net Receivables | 160,205,000 | 150,678,000 | |
| Inventory | 8,650,000 | 11,070,000 | |
| Other Current Assets | 0 | 0 | |
| Total Current Assets | 263,979,000 | 239,255,000 | 10.3% |
| Non-Current Assets | |||
| Property Plant Equipment | 0 | 0 | |
| Accumulated Depreciation Amortization PPE | 0 | 0 | |
| Long-Term Investments | 16,990,000 | 17,118,000 | |
| Investments | 0 | 0 | |
| Intangible Assets Excluding Goodwill | 0 | 0 | |
| Goodwill | 0 | 0 | |
| Intangible Assets | 0 | 0 | |
| Other Non-Current Assets | 0 | 0 | |
| Total Non-Current Assets | 3,296,970,000 | 3,330,504,000 | -1.0% |
| Total Assets | 3,560,949,000 | 3,569,759,000 | -0.2% |
| Liabilities | |||
| Current Liabilities | |||
| Current Accounts Payable | 115,454,000 | 87,499,000 | |
| Deferred Revenue | 0 | 0 | |
| Current Debt | 0 | 0 | |
| Short-Term Debt | 0 | 0 | |
| Current Long-Term Debt | 0 | 0 | |
| Short Long-Term Debt Total | 0 | 0 | |
| Other Current Liabilities | 646,000 | 652,000 | |
| Total Current Liabilities | 120,904,000 | 92,966,000 | 30.1% |
| Non-Current Liabilities | |||
| Long-Term Debt Noncurrent | 0 | 0 | |
| Long-Term Debt | 2,365,193,000 | 2,360,911,000 | |
| Capital Lease Obligations | 8,924,000 | 9,219,000 | |
| Other Non-Current Liabilities | 0 | 0 | |
| Total Non-Current Liabilities | 2,374,117,000 | 2,370,130,000 | |
| Total Liabilities | 2,495,021,000 | 2,463,096,000 | 1.3% |
| Shareholders' Equity | |||
| Common Stock | 0 | 0 | |
| Common Stock Shares Outstanding | 70,894,950 | 69,824,743 | |
| Treasury Stock | 0 | 0 | |
| Retained Earnings | -1,592,902,000 | -1,551,007,000 | |
| Total Shareholder Equity | 1,065,928,000 | 1,106,663,000 | -3.7% |
Amounts in USD ($)
Income Statement | Quarterly
| 2025-06-30 | 2025-03-31 | QoQ | |
|---|---|---|---|
| Total Revenue | 114,499,000 | 113,615,000 | 0.8% |
| Cost of Revenue | 12,111,000 | 13,458,000 | |
| Cost of Goods and Services Sold | 12,111,000 | 13,458,000 | |
| Gross Profit | 102,388,000 | 100,157,000 | 2.2% |
| Research and Development | 0 | 0 | |
| Selling General and Administrative | 4,816,000 | 5,058,000 | |
| Depreciation | 0 | 0 | |
| Depreciation and Amortization | 0 | 0 | |
| Operating Expenses | 97,685,000 | 101,021,000 | |
| Operating Income | 16,814,000 | 12,594,000 | 33.5% |
| EBIT (Earnings Before Interest and Tax) | 0 | 0 | |
| Investment Income Net | 0 | 0 | |
| Net Interest Income | -51,719,000 | -52,216,000 | |
| Interest Income | 788,000 | 1,162,000 | |
| Interest Expense | 52,507,000 | 53,378,000 | |
| Interest and Debt Expense | 0 | 0 | |
| Non Interest Income | 0 | 0 | |
| Other Non Operating Income | 0 | 0 | |
| Income Before Tax | -40,964,000 | -45,478,000 | -9.9% |
| Income Tax Expense | 0 | 0 | |
| Net Income from Continuing Operations | -41,186,000 | -45,867,000 | |
| Net Income | -41,186,000 | -45,867,000 | -10.2% |
| Comprehensive Income Net of Tax | 0 | 0 | |
| EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) | 0 | 0 |
Amounts in USD ($)
Cash Flow | Quarterly
| Cash Flows from Operating Activities | 2025-06-30 | 2025-03-31 | QoQ |
|---|---|---|---|
| Net Income | -41,186,000 | -45,867,000 | -10.2% |
| Depreciation, Depletion, and Amortization | 40,885,000 | 40,910,000 | |
| Change in Receivables | 0 | 0 | |
| Change in Inventory | 0 | 0 | |
| Change in Operating Assets | 0 | 0 | |
| Change in Operating Liabilities | 0 | 0 | |
| Payments for Operating Activities | 0 | 0 | |
| Proceeds from Operating Activities | 0 | 0 | |
| Profit Loss | 0 | 0 | |
| Net Cash Provided by Operating Activities | 32,399,000 | -28,588,000 | -213.3% |
| Cash Flows from Investing Activities | |||
| Capital Expenditures | 0 | 0 | |
| Net Cash Used in Investing Activities | 0 | 0 | |
| Cash Flows from Financing Activities | |||
| Proceeds from Issuance of Common Stock | 0 | 0 | |
| Proceeds from Issuance of Preferred Stock | 0 | 0 | |
| Proceeds from Issuance of Long-Term Debt | 0 | 0 | |
| Proceeds from Repurchase of Equity | -5,000 | 0 | |
| Proceeds from Sale of Treasury Stock | 0 | 0 | |
| Repayment of Short-Term Debt | 0 | 0 | |
| Payments for Repurchase of Common Stock | 0 | 0 | |
| Payments for Repurchase of Preferred Stock | 0 | 0 | |
| Payments for Repurchase of Equity | 0 | 0 | |
| Dividend Payout | 709,000 | 698,000 | |
| Dividend Payout - Common Stock | 709,000 | 698,000 | |
| Dividend Payout - Preferred Stock | 0 | 0 | |
| Net Cash Provided by Financing Activities | -6,571,000 | -184,957,000 | -96.4% |
| Other Items | |||
| Effect of Exchange Rate on Cash | 0 | 0 | |
| Net Increase in Cash and Cash Equivalents | 0 | 0 |
Amounts in USD ($)
REITRating™ Scorecard
| Rating | Dividend Section | Avg. Rating |
|---|---|---|
| 0 | Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. | 4.8 |
| 0 | Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. | 7.8 |
| 1 | Dividend to Normalized FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to Normalized FFO Payout Ratios trend during the last two years. | 7.4 |
| Rating | AFFO & Efficiency Section | Avg. Rating |
| 4 | Normalized FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. | 6.5 |
| 7 | Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. | 9.2 |
| 5 | Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. | 8.4 |
| Rating | Leverage Section | Avg. Rating |
| 10 | Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. | 8.0 |
| 9 | Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. | 8.0 |
| 10 | Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. | 7.4 |
| 4 | Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. | 5.0 |
| 6 | Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. | 6.6 |
| Rating | Asset & Revenue Section | Avg. Rating |
| 9 | G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. | 6.4 |
| 9 | G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. | 7.0 |
| 3 | Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. | 5.5 |
| 4 | Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. | 5.9 |
| Rating | Properties Section | Avg. Rating |
| 7 | Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. | 7.8 |
| 6 | Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. | 7.8 |
| Rating | Market Cap Section | Avg. Rating |
| 5.0 | Overall REITRating™ Score (See trend) | 6.3 |
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.
Related REITs
| REIT | REITRating™ Score | Exchange | Market Capitalization | Sector | Country |
|---|---|---|---|---|---|
| City Office REIT Inc (CIO) | 5.7 | NYSE | Micro-Cap | Office | United States |
| Creative Media & Community Trust Corporation (CMCT) | 6.1 | NASDAQ | Micro-Cap | Office Hotel Residential | United States |
| Franklin Street Properties Corp. (FSP) | 5.1 | NYSE | Micro-Cap | Office | United States |
| Generation Income Properties Inc. (GIPR) | 5.9 | NASDAQ | Micro-Cap | Retail Office Industrial | United States |
| Gyrodyne Company of America, Inc. (GYRO) | N/A | NASDAQ | Micro-Cap | Industrial Office Health Care Diversified | United States |
Last updated: 2025-08-16 - v6.6