Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Office Properties Income ( (OPI) ) has provided an announcement.
Office Properties Income Trust (OPI) announced the completion of a private exchange of its 4.50% senior unsecured notes due 2025, which involves issuing $445 million of new 3.25% senior secured notes due 2027, cash for accrued interest, 11.5 million shares of common stock, and $25 million in premiums. This move is part of OPI’s strategy to manage its debt maturities, as it plans to address the remaining $113.1 million of 2025 Notes before their maturity in February 2025. The new 2027 Notes are secured by first-priority liens on properties valued at $1.3 billion and will require quarterly amortizations, indicating a strategic effort to stabilize the company’s financial positioning and secure its real estate assets.
More about Office Properties Income
Office Properties Income Trust (OPI) is a national real estate investment trust (REIT) that focuses on owning and leasing office properties to high credit quality tenants across the United States. As of September 30, 2024, OPI owned 145 properties with approximately 19.5 million square feet in 30 states and Washington, D.C. Approximately 59% of OPI’s revenues came from investment-grade rated tenants. OPI is managed by The RMR Group, a leading U.S. alternative asset management company.
YTD Price Performance: -80.67%
Average Trading Volume: 1,133,640
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $77.54M
See more insights into OPI stock on TipRanks’ Stock Analysis page.
