Office Properties Income said there’s substantial doubt about its ability to continue as a going concern; it also reported normalized FFO per share for the third quarter that missed the average analyst estimate.
THIRD QUARTER RESULTS
- Normalized FFO per share 43c vs. $1.02 y/y, estimate 47c (
Bloomberg Consensus ) (2 estimates) - Rental income $120.6 million, -9.6% y/y
COMMENTARY AND CONTEXT
- As of October 30, 2024, OPI’s total available liquidity was comprised of $146.4 million of cash. OPI’s $456.7 million of unsecured senior notes are due on February 1, 2025. OPI is currently in negotiations with certain holders of such ...
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