When does Office Properties Income Trust (OPI) report earnings next?

Office Properties Income Trust's next results are projected for February 8, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 9, 2026.

What is OPI's short interest?

As of October 30, 2026, 317,426 OPI shares were sold short, 1.45% of its shares outstanding, down 27.9% from the count before. At the stock's average daily volume that is 3.4 days to cover. FINRA publishes the count twice a month.

Have members of Congress traded OPI?

1 trade in OPI has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days.

Office Properties Income Trust

OPINASDAQUSD

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$15.38

−$1.12 (−6.79%)Today 1M −0.90%

After hours$15.380.00%Nov 11, 4:00 PM ET

Updated Nov 11, 4:00 PM ET · Regular session · May be delayed




: $16.50
: $15.31–$17.02
: 89.4K
: Feb 8 projected
: $11.79–$49.69

Understand the Business

Why the Stock Moved

Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.

The core investment thesis

Own OPI if leasing stabilizes and refinancing or asset sales preserve value for shareholders rather than creditors.

What must remain true for the stock to work.Explore the thesis

4 hours

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Investment thesis

What must happen next

4 MATERIAL PROPOSITIONS

OPI’s office properties must remain essential enough to tenants that renewals and new leases arrest the rent-base erosion caused by hybrid work and corporate space downsizing.WeakeningMateriality: High
Annual GAAP revenue remained substantial at $442.556 million in FY2025, showing the portfolio still has a real rent base. If the lease base stabilizes, the equity has a chance to recover; if tenant demand keeps shrinking, debt and fixed costs overwhelm the common.
Watch: Major tenants adopt permanent space reductions rather than renewing expiring office leases.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP revenue remained substantial at $442.556 million in FY2025, showing the portfolio still has a real rent base.
Open source ↗
OPI must be able to convert contractual rent into operating cash after vacancy carry, interest burden, and leasing costs; otherwise the real estate does not fund itself.WeakeningMateriality: High
Annual GAAP operating cash flow was positive at $67.167 million in FY2024 and $141.726 million in FY2023, showing the business has historically generated cash. Positive cash conversion gives management time to refinance and reposition assets; negative cash conversion accelerates distress.
Watch: Renewals require materially higher tenant-improvement allowances, free rent, or broker commissions before occupancy can be maintained.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Annual GAAP operating cash flow was positive at $67.167 million in FY2024 and $141.726 million in FY2023, showing the business.
Open source ↗
OPI needs lenders and buyers to provide enough liquidity through refinancing, dispositions, or other capital sources so the company is not forced into value-destructive transactions.WeakeningMateriality: Medium
Cash and cash equivalents were $29.486 million at December 31, 2025. The common equity’s survival depends on liquidity runway; a forced recapitalization can leave shareholders with little even if properties retain some value.
Watch: Debt markets refuse unsecured or mortgage refinancing except at terms that trap cash or subordinate the common equity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were $29.486 million at December 31, 2025.
Open source ↗
Private-market values for OPI’s office assets must remain high enough that sales or refinancings protect common equity rather than merely repay creditors after write-downs.WeakeningMateriality: Medium
Stockholders’ equity was $880.987 million at December 31, 2025, leaving stated book equity above zero. For a leveraged REIT, asset value leakage is magnified; if collateral values fall, equity value can disappear even before all properties are sold.
Watch: Comparable office transactions clear at capitalization rates or per-square-foot values materially below OPI’s carrying assumptions.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Stockholders’ equity was $880.987 million at December 31, 2025, leaving stated book equity above zero.
Open source ↗

Full investment case & evidence

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Original research

OPI’s office properties must remain essential enough to tenants that renewals and new leases arrest the rent-base erosion caused by hybrid work and corporate space downsizing. If the lease base stabilizes, the equity has a chance to recover; if tenant demand keeps shrinking, debt and fixed costs overwhelm the common.

OPI must be able to convert contractual rent into operating cash after vacancy carry, interest burden, and leasing costs; otherwise the real estate does not fund itself. Positive cash conversion gives management time to refinance and reposition assets; negative cash conversion accelerates distress.

OPI needs lenders and buyers to provide enough liquidity through refinancing, dispositions, or other capital sources so the company is not forced into value-destructive transactions. The common equity’s survival depends on liquidity runway; a forced recapitalization can leave shareholders with little even if properties retain some value.

Private-market values for OPI’s office assets must remain high enough that sales or refinancings protect common equity rather than merely repay creditors after write-downs. For a leveraged REIT, asset value leakage is magnified; if collateral values fall, equity value can disappear even before all properties are sold.

All standing thesis claims

Original report summary

leasing stabilizes and refinancing or asset sales preserve value for shareholders rather than creditors.

Bull case and bear case

Bull case and bear case for Office Properties Income Trust

Where the evidence on Office Properties Income Trust stands: Weakening on the latest evidence (Nov 7, 2026). Of its 4 thesis points, 4 weakening.

Bull case: what the evidence supports

No thesis point is strengthening or holding on the latest evidence.

Bear case: what the evidence questions

OPI’s office properties must remain essential enough to tenants that renewals and new leases arrest the rent-base erosion caused by hybrid work and corporate space downsizing.
sec.gov ↗
OPI must be able to convert contractual rent into operating cash after vacancy carry, interest burden, and leasing costs; otherwise the real estate does not fund itself.
sec.gov ↗
OPI needs lenders and buyers to provide enough liquidity through refinancing, dispositions, or other capital sources so the company is not forced into value-destructive transactions.
sec.gov ↗
Private-market values for OPI’s office assets must remain high enough that sales or refinancings protect common equity rather than merely repay creditors after write-downs.
sec.gov ↗

Thesis-Break Engine

Thesis-break watch · Office Properties Income Trust

Trailing daily price. No thesis break has crossed here, so there is no break base rate to project.

No break has crossed Office Properties Income Trust’s thesis. Its break conditions are checked against every new filing as it lands.

How the Thesis-Break Engine works →Historical outcomes are measured against the market after past breaks of the same kind, across all companies. Not a prediction.

MARKET + FINANCIAL SNAPSHOT

The numbers behind the thesis

Sourced from filings and market data

What Changed

MixedSep 24, 2026
Entered a material definitive agreement.
Office Properties Income Trust filed an SEC 8-K on 2026-09-24: Entered a material definitive agreement. It is a dated development that tests the current thesis.
MixedSep 10, 2026
Other material event.
Office Properties Income Trust filed an SEC 8-K on 2026-09-10: Other material event. It is a dated development that tests the current thesis.
MixedAug 5, 2026
Reported results of operations (earnings release).
Office Properties Income Trust filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.

Evidence assessed 2026-11-07 · Page updated 2026-11-07

Risks / falsifiers

What could break the thesis

Major tenants adopt permanent space reductions rather than renewing expiring office leases.
Renewals require materially higher tenant-improvement allowances, free rent, or broker commissions before occupancy can be maintained.
Debt markets refuse unsecured or mortgage refinancing except at terms that trap cash or subordinate the common equity.
Comparable office transactions clear at capitalization rates or per-square-foot values materially below OPI’s carrying assumptions.

OPI news

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Financial statements

OPI income statement

Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.

OPI: quick answers

When does Office Properties Income Trust (OPI) report earnings next?: Office Properties Income Trust's next results are projected for February 8, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 9, 2026. Earnings calendar
What is OPI's short interest?: As of October 30, 2026, 317,426 OPI shares were sold short, 1.45% of its shares outstanding, down 27.9% from the count before. At the stock's average daily volume that is 3.4 days to cover. FINRA publishes the count twice a month. OPI short interest history
Have members of Congress traded OPI?: 1 trade in OPI has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed OPI trade