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Office Properties Income Trust

Nasdaq:OPI
Snowflake Description

Average dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OPI
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. The last earnings update was 21 days ago. More info.


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OPI Share Price and Events
7 Day Returns
0.1%
NasdaqGS:OPI
1.4%
US REITs
0.5%
US Market
1 Year Returns
-7.8%
NasdaqGS:OPI
15.7%
US REITs
16.1%
US Market
OPI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Office Properties Income Trust (OPI) 0.1% -2.6% 19.8% -7.8% -58% -64.7%
US REITs 1.4% -2.3% 1.9% 15.7% 22.8% 23.5%
US Market 0.5% 3.9% 6.6% 16.1% 37.7% 43.7%
1 Year Return vs Industry and Market
  • OPI underperformed the REITs industry which returned 15.7% over the past year.
  • OPI underperformed the Market in United States of America which returned 16.1% over the past year.
Price Volatility
OPI
Industry
5yr Volatility vs Market

Value

 Is Office Properties Income Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Office Properties Income Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Office Properties Income Trust.

NasdaqGS:OPI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:OPI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.468 (1 + (1- 21%) (164.33%))
1.05
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.05 * 5.96%)
8.99%

Discounted Cash Flow Calculation for NasdaqGS:OPI using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

NasdaqGS:OPI Discount to Share Price
Calculation Result
Value per share (USD) From above. $42.32
Current discount Discount to share price of $32.05
= -1 x ($32.05 - $42.32) / $42.32
24.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Office Properties Income Trust is available for.
Intrinsic value
24%
Share price is $32.05 vs Future cash flow value of $42.32
Current Discount Checks
For Office Properties Income Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Office Properties Income Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Office Properties Income Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Office Properties Income Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Office Properties Income Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:OPI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-1.76
NasdaqGS:OPI Share Price ** NasdaqGS (2019-11-21) in USD $32.05
United States of America REITs Industry PE Ratio Median Figure of 144 Publicly-Listed REITs Companies 38.55x
United States of America Market PE Ratio Median Figure of 2,917 Publicly-Listed Companies 18.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Office Properties Income Trust.

NasdaqGS:OPI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:OPI Share Price ÷ EPS (both in USD)

= 32.05 ÷ -1.76

-18.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Office Properties Income Trust is loss making, we can't compare its value to the US REITs industry average.
  • Office Properties Income Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Office Properties Income Trust's expected growth come at a high price?
Raw Data
NasdaqGS:OPI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -18.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
42.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 133 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,043 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Office Properties Income Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Office Properties Income Trust's assets?
Raw Data
NasdaqGS:OPI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $34.57
NasdaqGS:OPI Share Price * NasdaqGS (2019-11-21) in USD $32.05
United States of America REITs Industry PB Ratio Median Figure of 183 Publicly-Listed REITs Companies 1.97x
United States of America Market PB Ratio Median Figure of 5,089 Publicly-Listed Companies 1.75x
NasdaqGS:OPI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:OPI Share Price ÷ Book Value per Share (both in USD)

= 32.05 ÷ 34.57

0.93x

* Primary Listing of Office Properties Income Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Office Properties Income Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Office Properties Income Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Office Properties Income Trust has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Office Properties Income Trust expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
42.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Office Properties Income Trust expected to grow at an attractive rate?
  • Unable to compare Office Properties Income Trust's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Office Properties Income Trust's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Office Properties Income Trust's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:OPI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:OPI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 42.2%
NasdaqGS:OPI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -3.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:OPI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:OPI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 614 -16 3
2020-12-31 617 -32 5
2019-12-31 680 -37 3
2019-11-22
NasdaqGS:OPI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 622 173 -74
2019-06-30 561 159 -80
2019-03-31 493 128 10
2018-12-31 427 145 -28
2018-09-30 430 162 -8
2018-06-30 394 161 -8
2018-03-31 356 147 -22
2017-12-31 317 138 -10
2017-09-30 275 128 22
2017-06-30 270 122 43
2017-03-31 264 119 48
2016-12-31 258 127 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Office Properties Income Trust is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Office Properties Income Trust's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:OPI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Office Properties Income Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:OPI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 -1.70 -1.70 -1.70 1.00
2019-12-31 -1.11 -1.11 -1.11 1.00
2019-11-22
NasdaqGS:OPI Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -1.76
2019-06-30 -2.19
2019-03-31 0.33
2018-12-31 -1.13
2018-09-30 -0.32
2018-06-30 -0.33
2018-03-31 -0.94
2017-12-31 -0.47
2017-09-30 1.12
2017-06-30 2.44
2017-03-31 2.73
2016-12-31 1.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Office Properties Income Trust will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Office Properties Income Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Office Properties Income Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Office Properties Income Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Office Properties Income Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Office Properties Income Trust does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Office Properties Income Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Office Properties Income Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Office Properties Income Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Office Properties Income Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:OPI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 621.88 -74.24 13.94
2019-06-30 560.57 -80.02 28.33
2019-03-31 492.62 10.04 24.04
2018-12-31 426.56 -27.98 24.92
2018-09-30 430.07 -8.01 42.97
2018-06-30 394.15 -8.10 23.85
2018-03-31 355.95 -21.58 24.49
2017-12-31 316.53 -10.01 18.85
2017-09-30 275.39 21.79 15.86
2017-06-30 269.69 43.34 16.41
2017-03-31 263.87 48.46 15.33
2016-12-31 258.18 22.97 14.90
2016-09-30 253.84 44.00 14.75
2016-06-30 251.45 49.19 14.64
2016-03-31 249.50 -158.74 14.35
2015-12-31 248.55 -209.44 14.83
2015-09-30 251.49 -193.00 15.70
2015-06-30 253.56 -198.01 16.32
2015-03-31 253.87 7.23 16.72
2014-12-31 251.03 53.04 15.81
2014-09-30 244.68 51.30 14.90
2014-06-30 236.92 51.40 13.51
2014-03-31 230.43 51.99 12.63
2013-12-31 226.91 55.51 12.71
2013-09-30 223.03 56.51 12.20
2013-06-30 219.17 56.18 12.79
2013-03-31 209.96 52.18 12.10
2012-12-31 203.70 49.06 11.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Office Properties Income Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Office Properties Income Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Office Properties Income Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Office Properties Income Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Office Properties Income Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Office Properties Income Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Office Properties Income Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Office Properties Income Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Office Properties Income Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Office Properties Income Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Office Properties Income Trust Company Filings, last reported 1 month ago.

NasdaqGS:OPI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,666.61 2,536.12 29.00
2019-06-30 1,696.49 2,922.75 21.10
2019-03-31 1,787.00 3,000.94 20.15
2018-12-31 1,778.97 3,254.89 35.35
2018-09-30 1,239.36 2,138.14 9.64
2018-06-30 1,281.65 2,126.52 18.70
2018-03-31 1,314.85 2,244.85 17.38
2017-12-31 1,350.54 2,245.09 16.57
2017-09-30 1,377.53 2,082.79 551.71
2017-06-30 908.68 1,377.09 12.91
2017-03-31 928.57 1,381.97 12.81
2016-12-31 935.00 1,381.85 29.94
2016-09-30 950.74 1,246.80 13.75
2016-06-30 957.21 1,221.76 9.02
2016-03-31 960.90 1,232.81 15.70
2015-12-31 956.65 1,145.60 8.79
2015-09-30 1,013.44 1,149.41 11.31
2015-06-30 1,027.24 1,142.10 7.05
2015-03-31 1,234.20 1,139.10 9.54
2014-12-31 1,297.45 1,085.12 13.79
2014-09-30 1,313.33 1,070.63 4.93
2014-06-30 973.22 735.46 5.04
2014-03-31 981.53 605.12 2.98
2013-12-31 989.68 597.73 7.66
2013-09-30 1,000.46 510.34 2.70
2013-06-30 1,021.12 466.94 3.12
2013-03-31 1,029.19 470.03 3.59
2012-12-31 1,027.45 492.63 5.26
  • Office Properties Income Trust's level of debt (152.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (81.5% vs 152.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Office Properties Income Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Office Properties Income Trust has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -10.8% per year.
X
Financial health checks
We assess Office Properties Income Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Office Properties Income Trust has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Office Properties Income Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.86%
Current annual income from Office Properties Income Trust dividends. Estimated to be 6.95% next year.
If you bought $2,000 of Office Properties Income Trust shares you are expected to receive $137 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Office Properties Income Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Office Properties Income Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.65%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:OPI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 175 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1954 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:OPI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.27 3.00
2020-12-31 2.23 4.00
2019-12-31 2.20 4.00
2019-11-22
NasdaqGS:OPI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-17 2.200 6.823
2019-07-18 2.200 7.724
2019-04-18 2.200 8.452
2019-03-01 2.200 7.863
2019-02-28 2.200 7.495
2018-10-18 6.880 21.033
2018-07-19 6.880 12.613
2018-04-19 6.880 12.062
2018-01-19 6.880 11.951
2017-10-12 6.880 9.328
2017-07-12 6.880 9.364
2017-04-11 6.880 8.096
2017-01-13 6.880 8.549
2016-10-11 6.880 8.942
2016-07-28 6.880 7.466
2016-04-13 6.880 8.382
2016-01-11 6.880 11.458
2015-10-13 6.880 10.609
2015-07-13 6.880 10.309
2015-04-13 6.880 8.650
2015-01-12 6.880 7.513
2014-10-13 6.880 7.475
2014-07-14 6.880 7.375
2014-04-08 6.880 6.781
2014-01-03 6.880 6.948
2013-10-09 6.880 6.960
2013-07-10 6.880 7.046
2013-04-10 6.880 6.769
2013-01-10 6.880 6.757
2012-10-09 6.880 7.427
2012-07-09 6.720 7.354
2012-04-09 6.720 7.493
2012-01-09 6.720 7.070
2011-10-06 6.720 7.614
2011-07-01 6.720 7.283
2011-04-05 6.720 6.416
2011-01-05 6.560 6.209
2010-10-05 6.560 6.159
2010-07-01 6.560 6.241
2010-04-08 6.400 6.105
2009-12-11 6.400 6.763
2009-10-09 6.400 6.707
2009-08-10 6.400 7.242

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Office Properties Income Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (111.1x coverage).
X
Income/ dividend checks
We assess Office Properties Income Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Office Properties Income Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Office Properties Income Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Office Properties Income Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Blackman
COMPENSATION $142,730
AGE 56
TENURE AS CEO 1.4 years
CEO Bio

Mr. David M. Blackman has been Chief Executive Officer at Tremont Mortgage Trust since June 1, 2017 and its Managing Trustee since March 9, 2018. He also serves as its Chief Operating Officer, President and Chief Investment Officer at Tremont Mortgage Trust since August 20, 2018. He became executive vice president of RMR LLC in 2013 and has served as president, chief operating officer and Chief financial officer of other publicly traded real estate investment trusts managed by The RMR Group LLC. Mr. Blackman has been President of Office Properties Income Trust (formerly Government Properties Income Trust) since January 10, 2011 and has been its CEO since June 2018. He serves as Managing Trustee at Office Properties Income Trust (formerly Government Properties Income Trust) since January 01, 2019. He served as Chief Operating Officer of Office Properties Income Trust (then known as Government Properties Income Trust) since January 10, 2011 until June 2018. Mr. Blackman was the Chief Operating Officer of Select Income REIT since 2012. He has been Investment Manager of Hospitality Properties Trust since February 2009. Mr. Blackman was a managing trustee and president and chief executive officer of Select Income REIT from 2018 until it merged with a wholly owned subsidiary of Office Properties Income Trust (then known as Government Properties Income Trust) in December 2018 and he was its president and chief operating officer from 2011 through April 2018. Mr. Blackman has served as President and Chief Executive Officer of Tremont Realty Advisors LLC since January 2018 and also serves as its Director since 2018 and he served as an Executive Vice President of Tremont Realty Advisors LLC since it was formed in 2016 through 2017. Mr. Blackman served as Senior Vice President of RMR LLC in 2009. He served as Chief Financial Officer and Treasurer of Government Properties Income Trust from 2009 to January 2011 and also served as its Principal Accounting Officer. Prior to joining The RMR Group in 2009, He was a real estate investment banker at Wachovia Corporation. He was a Banker at Wachovia Bank and its predecessors for 23 years, focused on real estate finance matters. Mr. Blackman served as Managing Director in the real estate section of Wachovia Capital Markets, LLC from 2005 to January 2009. His experience includes asset level real estate lending, real estate loan syndications, REIT corporate banking and real estate investment banking.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Office Properties Income Trust management team in years:

1.5
Average Tenure
56
Average Age
  • The average tenure for the Office Properties Income Trust management team is less than 2 years, this suggests a new team.
Management Team

David Blackman

TITLE
President
COMPENSATION
$143K
AGE
56
TENURE
1.4 yrs

Matt Brown

TITLE
CFO & Treasurer
TENURE
0.4 yrs

Brad Shepherd

TITLE
Senior Director
TENURE
1.5 yrs

Vern Larkin

TITLE
Director of Internal Audit
AGE
49
TENURE
7.8 yrs

Christopher Bilotto

TITLE
Vice President
TENURE
0.8 yrs

Jennifer Clark

TITLE
Secretary
AGE
57
TENURE
10.8 yrs

Olivia Snyder

TITLE
Manager of Investor Relations
Board of Directors Tenure

Average tenure and age of the Office Properties Income Trust board of directors in years:

0.8
Average Tenure
67
Average Age
  • The average tenure for the Office Properties Income Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Adam Portnoy

TITLE
Chairman of the Board
COMPENSATION
$42K
AGE
49
TENURE
0.4 yrs

David Blackman

TITLE
President
COMPENSATION
$143K
AGE
56
TENURE
0.8 yrs

Jeffrey Somers

TITLE
Independent Trustee
COMPENSATION
$131K
AGE
76
TENURE
10.4 yrs

Donna Fraiche

TITLE
Independent Trustee
AGE
67
TENURE
0.8 yrs

Bill Lamkin

TITLE
Independent Trustee
AGE
60
TENURE
0.8 yrs

Elena Poptodorova

TITLE
Lead Independent Trustee
COMPENSATION
$121K
AGE
67
TENURE
0.5 yrs

John Harrington

TITLE
Independent Trustee
COMPENSATION
$136K
AGE
83
TENURE
10.4 yrs

Barbara Gilmore

TITLE
Independent Trustee
COMPENSATION
$132K
AGE
68
TENURE
10.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Office Properties Income Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Office Properties Income Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

You May Have Been Looking At Office Properties Income Trust (NASDAQ:OPI) All Wrong

Office Properties Income Trust is a US$1.3b small-cap, real estate investment trust (REIT) based in Newton, United States. … View our latest analysis for Office Properties Income Trust REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks.

Simply Wall St -

Is Office Properties Income Trust (NASDAQ:OPI) Potentially Undervalued?

Office Properties Income Trust (NASDAQ:OPI), which is in the reits business, and is based in United States, saw a double-digit share price rise of over 10% in the past couple of months on the NASDAQGS. … Great news for investors – Office Properties Income Trust is still trading at a fairly cheap price. … This is because Office Properties Income Trust’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market.

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Office Properties Income Trust (NASDAQ:OPI)?

If you're interested in Office Properties Income Trust (NASDAQ:OPI), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Check out our latest analysis for Office Properties Income Trust What OPI's beta value tells investors Given that it has a beta of 1.6, we can surmise that the Office Properties Income Trust share price has been fairly sensitive to market volatility (over the last 5 years). … What this means for you: Since Office Properties Income Trust tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

We Think Office Properties Income Trust (NASDAQ:OPI) In Taking Some Risk With Its Debt

NasdaqGS:OPI Historical Debt, June 26th 2019 How Strong Is Office Properties Income Trust's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Office Properties Income Trust's balance sheet over time. … Looking at the balance sheet and taking into account all these factors, we do believe that debt is making Office Properties Income Trust stock a bit risky.

Simply Wall St -

Here's Why Office Properties Income Trust (NASDAQ:OPI) Has A Meaningful Debt Burden

Check out our latest analysis for Office Properties Income Trust What Is Office Properties Income Trust's Net Debt? … NasdaqGS:OPI Historical Debt, June 26th 2019 How Healthy Is Office Properties Income Trust's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Office Properties Income Trust's balance sheet over time.

Simply Wall St -

Those Who Purchased Office Properties Income Trust (NASDAQ:OPI) Shares Five Years Ago Have A 77% Loss To Show For It

Zooming in on an example, the Office Properties Income Trust (NASDAQ:OPI) share price dropped 77% in the last half decade. … During five years of share price growth, Office Properties Income Trust moved from a loss to profitability. … As it happens, Office Properties Income Trust's TSR for the last 5 years was -63%, which exceeds the share price return mentioned earlier.

Simply Wall St -

How Should You Analyze REIT Stock Office Properties Income Trust (NASDAQ:OPI)?

Office Properties Income Trust is a US$1.2b small-cap, real estate investment trust (REIT) based in Newton, United States. … Check out our latest analysis for Office Properties Income Trust Funds from Operations (FFO) is a higher quality measure of OPI's earnings compared to net income. … Next Steps: Office Properties Income Trust can bring diversification into your portfolio due to its unique REIT characteristics.

Simply Wall St -

Is Office Properties Income Trust (NASDAQ:OPI) A Risky Dividend Stock?

Could Office Properties Income Trust (NASDAQ:OPI) be an attractive dividend share to own for the long haul? … In this case, Office Properties Income Trust likely looks attractive to investors, given its 8.3% dividend yield and a payment history of over ten years. … There are a few simple ways to reduce the risks of buying Office Properties Income Trust for its dividend, and we'll go through these below.

Simply Wall St -

Is It Too Late To Consider Buying Office Properties Income Trust (NASDAQ:OPI)?

Office Properties Income Trust (NASDAQ:OPI), which is in the reits business, and is based in United States,. … A question to answer is whether Office Properties Income Trust's current trading price of $28.92 reflective of the actual value of the? … Let’s take a look at Office Properties Income Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Imagine Owning Office Properties Income Trust While The Price Tanked 70%

Zooming in on an example, the Office Properties Income Trust (NASDAQ:OPI) share price dropped 70% in the last half decade. … View our latest analysis for Office Properties Income Trust. … During five years of share price growth, Office Properties Income Trust moved from a loss to profitability.

Simply Wall St -

Company Info

Description

OPI is a REIT focused on owning, operating and leasing properties primarily leased to single tenants and those with high credit quality characteristics such as government entities. OPI is managed by the operating subsidiary of RMR Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

Details
Name: Office Properties Income Trust
OPI
Exchange: NasdaqGS
Founded:
$1,544,899,034
48,202,778
Website: http://www.opireit.com/home/default.aspx
Address: Office Properties Income Trust
Two Newton Place,
Suite 300,
Newton,
Massachusetts, 02458,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS OPI Common Shares Nasdaq Global Select US USD 03. Jun 2009
DB GOKA Common Shares Deutsche Boerse AG DE EUR 03. Jun 2009
NasdaqGS OPIN.I 5.875% SR NT 46 Nasdaq Global Select US USD 24. May 2016
Number of employees
Current staff
Staff numbers
0
Office Properties Income Trust employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/22 00:27
End of day share price update: 2019/11/21 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/11/01
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.