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Office Properties Income Trust (OPI) Moves 7.1% Higher: Will This Strength Last?
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Office Properties Income Trust (OPI - Free Report) shares ended the last trading session 7.1% higher at $6.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.8% loss over the past four weeks.
The increased optimism surrounding the stock is attributable to the rebounding fundamentals of the United States office real estate market.
This company is expected to post quarterly funds from operations (FFO) of $0.98 per share in its upcoming report, which represents a year-over-year change of -11.7%. Revenues are expected to be $133.77 million, down 2.8% 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.
For Office Properties Income Trust, the consensus FFO per share estimate for the quarter has been revised 7.7% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. 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.
Office Properties Income Trust belongs to the Zacks REIT and Equity Trust - Residential industry. Another stock from the same industry, Broadstone Net Lease, Inc. (BNL - Free Report) , closed the last trading session 1.6% higher at $16.29. Over the past month, BNL has returned -0.1%.
For Broadstone Net Lease, Inc., the consensus FFO per share estimate for the upcoming report has changed -1.4% over the past month to $0.36. This represents a change of +2.9% from what the company reported a year ago. Broadstone Net Lease, Inc. currently has a Zacks Rank of #4 (Sell).
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Office Properties Income Trust (OPI) Moves 7.1% Higher: Will This Strength Last?
Office Properties Income Trust (OPI - Free Report) shares ended the last trading session 7.1% higher at $6.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.8% loss over the past four weeks.
The increased optimism surrounding the stock is attributable to the rebounding fundamentals of the United States office real estate market.
This company is expected to post quarterly funds from operations (FFO) of $0.98 per share in its upcoming report, which represents a year-over-year change of -11.7%. Revenues are expected to be $133.77 million, down 2.8% 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.
For Office Properties Income Trust, the consensus FFO per share estimate for the quarter has been revised 7.7% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Office Properties Income Trust belongs to the Zacks REIT and Equity Trust - Residential industry. Another stock from the same industry, Broadstone Net Lease, Inc. (BNL - Free Report) , closed the last trading session 1.6% higher at $16.29. Over the past month, BNL has returned -0.1%.
For Broadstone Net Lease, Inc., the consensus FFO per share estimate for the upcoming report has changed -1.4% over the past month to $0.36. This represents a change of +2.9% from what the company reported a year ago. Broadstone Net Lease, Inc. currently has a Zacks Rank of #4 (Sell).