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Office Properties Income Trust (OPI) Surges 7.3%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Office Properties Income Trust (OPI) shares rallied 7.3% in the last trading session to close at $14.32. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7% loss over the past four weeks.

The increased optimism about the stock is attributable to the ongoing recovery in the United States office real estate market.

This company is expected to post quarterly funds from operations (FFO) of $1.10 per share in its upcoming report, which represents a year-over-year change of -8.3%. Revenues are expected to be $136.59 million, down 7.3% from the year-ago quarter.

While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.

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For Office Properties Income Trust, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OPI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Office Properties Income Trust is part of the Zacks REIT and Equity Trust - Residential industry. Apartment Income REIT Corp. (AIRC), another stock in the same industry, closed the last trading session 0.9% lower at $34.01. AIRC has returned -6.8% in the past month.

For Apartment Income REIT Corp., the consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at 60 cents. This represents a change of +7.1% from what the company reported a year ago. Apartment Income REIT Corp. currently has a Zacks Rank of #3 (Hold).

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Office Properties Income Trust (OPI) : Free Stock Analysis Report

Apartment Income REIT Corp. (AIRC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research