Office Properties selloff brings ‘compelling entry point,’ says B. Riley

B. Riley lowered the firm’s price target on Office Properties Trust (OPI) to $17 from $19 and keeps a Buy rating on the shares. The analyst reduced estimates following the termination of the company’s proposed acquisition of Diversified Healthcare Trust (DHC). However, the firm believes Office Properties’s recent share price weakness “creates a compelling entry point.” It says the underlying fundamentals of the company’s business have not changed materially since February, when the shares were trading in the mid-to-high teens.