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Mar 31, 2021
OPI Q1 2021 Earnings Report
Announced first quarter results with net income of $37.9 million and completed 575,000 square feet of leasing.
Key Takeaways
Office Properties Income Trust reported a strong first quarter in 2021, marked by increased liquidity and positive leasing results. Rent collections remained high, averaging above 99%. The company completed significant leasing activity and maintained a robust leasing pipeline.
Net income for the quarter ended March 31, 2021, was $37.9 million, or $0.78 per diluted share.
Normalized FFO was $61.8 million, or $1.28 per diluted share.
CAD was $47.7 million, or $0.99 per diluted share.
Completed 575,000 square feet of new and renewal leasing with a roll-up in rent of 3.2%.
Forward Guidance
OPI has entered into an agreement to acquire a property adjacent to a property it owns in Boston, MA and expects the sale of a property located in Liverpool, NY to occur before the end of the second quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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