Office Properties price target lowered to $10 from $13.50 at B. Riley

B. Riley analyst Bryan Maher lowered the firm’s price target on Office Properties Income Trust to $10 from $13.50 and keeps a Buy rating on the shares. The company’s recent re-financings were completed at rates above forecast, partially contributing to reduced estimates, the analyst tells investors in a research note. The firm says Office Properties continues to have over $3B of unencumbered assets that can be used for future secured notes offerings as it refinances upcoming maturities.