Office Properties Income Trust (OPI) Q3 FFO Miss Estimates

Core Viewpoint - Office Properties Income Trust (OPI) reported quarterly funds from operations (FFO) of $0.43 per share, missing the Zacks Consensus Estimate of $0.47 per share, and down from $1.02 per share a year ago, indicating a significant decline in performance [1] Financial Performance - OPI's revenues for the quarter ended September 2024 were $120.62 million, surpassing the Zacks Consensus Estimate by 0.58%, but down from $133.36 million year-over-year [2] - The company has surpassed consensus revenue estimates four times over the last four quarters [2] - The current consensus FFO estimate for the coming quarter is $0.43 on revenues of $115.82 million, and for the current fiscal year, it is $2.35 on revenues of $498.87 million [7] Stock Performance - OPI shares have lost approximately 74.3% since the beginning of the year, contrasting with the S&P 500's gain of 22.3% [3] - The estimate revisions trend for OPI is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] Industry Outlook - The REIT and Equity Trust - Residential industry, to which OPI belongs, is currently in the top 37% of over 250 Zacks industries, suggesting a relatively strong industry performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, which could impact OPI's stock performance [5]