NasdaqCM:OPIOffice REITs
Office Properties Income Trust (OPI) Stock Faces Debt Strain Despite Better Cash Flow
Office Properties Income Trust walked into this earnings season with a battered reputation and a fresh start after Chapter 11. The stock has inched up about 1% today, hardly a verdict on a company that just cut roughly US$714m of debt and is still carrying about US$1.7b of borrowings at an average interest cost near 9%.
The headline from this quarter is not earnings per share. It is cash. Normalized funds from operations of US$19m and adjusted EBITDAre of US$65m set the stage for the real...