NEWTON, Mass.--(BUSINESS WIRE)--Office Properties Income Trust (Nasdaq: OPI) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to OPI's common shareholders of record as of the close of business on October 28, 2024 and distributed on or about November 14, 2024.
About Office Properties Income Trust
OPI is a national REIT focused on owning and leasing office properties to high credit quality tenants in markets throughout the United States. As of June 30, 2024, approximately 61% of OPI's revenues were from investment grade rated tenants. OPI owned 151 properties as of June 30, 2024, with approximately 20.3 million square feet located in 30 states and Washington, D.C. In 2024, OPI was named as an Energy Star Partner of the Year for the seventh consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $41 billion in assets under management as of June 30, 2024, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. OPI is headquartered in Newton, MA. For more information, visit opireit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon OPI's present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond OPI's control. For example:
In this press release, OPI states that its regular quarterly cash distribution rate is $0.01 per share per quarter or $0.04 per share per year. OPI's Board of Trustees considers many factors when setting or resetting OPI's distribution rate, including OPI's historical and projected income, normalized funds from operations, cash available for distribution, the then current and expected needs and availability of cash to pay OPI's obligations and fund its investments, distributions which may be required to be paid to maintain OPI's qualification for taxation as a REIT and other factors deemed relevant by OPI's Board of Trustees. Accordingly, future distributions to OPI's shareholders may be increased or decreased and OPI cannot be sure as to the rate at which future distributions will be paid.
You should not place undue reliance upon forward-looking statements.
Except as required by law, OPI does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
Contacts
Kevin Barry, Senior Director, Investor Relations
(617) 219-1410
