Information Provided By:
Fly News Breaks for June 28, 2019
OPI
Jun 28, 2019 | 06:24 EDT
RBC Capital analyst Michael Carroll upgraded Office Properties Income Trust to Sector Perform from Underperform with an unchanged price target of $27. The shares should begin to stabilize given the "elevated" 8.7% dividend yield, which is supported by a "healthy" adjusted funds from operations payout ratio, Carroll tells investors in a research note. Further, Office Properties' board is better positioned to increase this rate in 2020 given the RMR stock sale and "more manageable" lease expiration schedule, adds the analyst.