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Mar 31, 2022
OPI Q1 2022 Earnings Report
Announced first quarter results with a net loss of $13.4 million and normalized FFO of $62.7 million.
Key Takeaways
Office Properties Income Trust reported a net loss of $13.4 million, or $0.28 per share, for the first quarter of 2022. Normalized FFO was $62.7 million, or $1.30 per share, and CAD was $51.0 million, or $1.06 per share. The company leased 572,000 square feet with a 5.1% roll-up in rents and a 10.7 year weighted average term.
Completed 572,000 square feet of new and renewal leasing with a 5.1% weighted average roll up in rent and a more than 10 year weighted average lease term.
Completed over one million square feet of new leasing during the past four quarters, ending the first quarter with same property occupancy greater than 91%.
Normalized FFO and CAD both increased over the prior year period.
Ended the first quarter with nearly $850 million of total liquidity.
OPI
OPI
Forward Guidance
OPI is maintaining its previously announced guidance for full year 2022 dispositions to be in the range of approximately $400 million to $500 million in aggregate proceeds.