Office Properties price target lowered to $1.80 from $5 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Office Properties to $1.80 from $5 and keeps an Underweight rating on the shares. The firm points out in a research note on Friday that Office Properties is now down -72% year-to-date and -85% over the past year. Morgan Stanley continues to see fundamental and balance sheet headwinds for the company and lowers its 2025 FFO estimates -37% to reflect recent financing activity and lower occupancy.