Office Properties Income Trust (OPI)


Market Price (10/29/2026): $13.31 | Market Cap: $292.2 MilSector: Real Estate | Industry: Office REITs

Office Properties Income Trust (OPI)


Market Price (10/29/2026): $13.31
Market Cap: $292.2 Mil
Sector: Real Estate
Industry: Office REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include ESG REITs, Green Building Certification, Show more.

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 567%

Stock price has recently run up significantly
6M Rtn6 month market price return is 6590%, 12M Rtn12 month market price return is 6590%

High stock price volatility
Vol 12M is 8400%

Key risks
OPI key risks include [1] a substantial debt burden following its recent bankruptcy reorganization, Show more.

0 Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include ESG REITs, Green Building Certification, Show more.
1 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 567%
2 Stock price has recently run up significantly
6M Rtn6 month market price return is 6590%, 12M Rtn12 month market price return is 6590%
3 High stock price volatility
Vol 12M is 8400%
4 Key risks
OPI key risks include [1] a substantial debt burden following its recent bankruptcy reorganization, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/28/2026

Office Properties Income Trust (OPI) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Post-Chapter 11 Restructuring Volatility and Lingering Financial Concerns. Office Properties Income Trust (OPI) emerged from Chapter 11 reorganization in April 2026, with its IPO dating to June 18, 2026. This recent emergence from bankruptcy indicates significant past financial distress, leading to continued market skepticism and trading volatility. The stock experienced a 4.3% drop on July 16, 2026, due to post-bankruptcy trading volatility. Further, the reported fiscal Q2 2026 earnings, announced on August 5, 2026, showed a substantial loss per share of -$35.94, underscoring ongoing financial challenges despite the restructuring.

2. High Cost of Debt and Refinancing Activities. In September 2026, OPI priced an offering of $425 million of 8.75% senior secured notes due 2031. This high-interest debt reflects elevated borrowing costs for the company, which can significantly strain profitability and cash flow, particularly in a period of rising interest rates. The proceeds from these notes were intended to repay outstanding borrowings, indicating a need to manage existing debt.

Show more
Updated on 10/28/2026

Office Properties Income Trust (OPI) stock has lost about 20% since 6/30/2026 because of the following key factors:

1. Post-Chapter 11 Restructuring Volatility and Lingering Financial Concerns. Office Properties Income Trust (OPI) emerged from Chapter 11 reorganization in April 2026, with its IPO dating to June 18, 2026. This recent emergence from bankruptcy indicates significant past financial distress, leading to continued market skepticism and trading volatility. The stock experienced a 4.3% drop on July 16, 2026, due to post-bankruptcy trading volatility. Further, the reported fiscal Q2 2026 earnings, announced on August 5, 2026, showed a substantial loss per share of -$35.94, underscoring ongoing financial challenges despite the restructuring.

2. High Cost of Debt and Refinancing Activities. In September 2026, OPI priced an offering of $425 million of 8.75% senior secured notes due 2031. This high-interest debt reflects elevated borrowing costs for the company, which can significantly strain profitability and cash flow, particularly in a period of rising interest rates. The proceeds from these notes were intended to repay outstanding borrowings, indicating a need to manage existing debt.

3. Significant Insider Selling Activity. Over the past quarter, insiders at Office Properties Income Trust sold more than 365,000 shares valued at approximately $7.1 million. Such substantial insider selling, exceeding the $5 million threshold, often signals a lack of confidence from individuals with intimate knowledge of the company's prospects, negatively impacting investor sentiment.

4. Broader Macroeconomic Headwinds in the REIT and Office Sector. Despite some improvements in office market fundamentals, such as positive Net Operating Income (NOI) growth and increased occupancy to 88% in fiscal Q3 2026, the overall Real Estate Investment Trust (REIT) sector faced significant macroeconomic challenges. A renewed surge in long-term Treasury yields during fiscal Q3 2026 negatively impacted REITs, with the Equity REIT Index declining by approximately 9% since late July. Rising interest rates have increased borrowing costs for real estate companies and narrowed the premium for owning real estate over bonds, creating a headwind for valuations and transaction activity.

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Stock Movement Drivers

Fundamental Drivers

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Market Drivers

6/30/2026 to 10/28/2026
ReturnCorrelation
OPI-21.3% 
Market (SPY)3.4%40.7%
Sector (XLRE)-4.3%18.1%

Fundamental Drivers

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Market Drivers

3/31/2026 to 10/28/2026
ReturnCorrelation
OPI6590.0% 
Market (SPY)19.1%34.1%
Sector (XLRE)4.1%8.5%

Fundamental Drivers

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Market Drivers

9/30/2025 to 10/28/2026
ReturnCorrelation
OPI3964.4% 
Market (SPY)16.9%-5.3%
Sector (XLRE)2.7%15.5%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/28/2026
ReturnCorrelation
OPI265.9% 
Market (SPY)86.9%-1.3%
Sector (XLRE)35.9%5.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OPI Return18%-40%-36%-86%-79%6060%-19%
Peers Return10%-47%21%24%-19%2%-28%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
OPI Win Rate75%33%58%25%25%20% 
Peers Win Rate58%27%55%55%48%46% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
OPI Max Drawdown-23%-52%-77%-86%-81%-37% 
Peers Max Drawdown-16%-53%-48%-27%-35%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ONL, NLOP, BDN, BXP, VNO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)

How Low Can It Go

EventOPIS&P 500
2025 US Tariff Shock
  % Loss-78.1%-18.8%
  % Gain to Breakeven356.0%23.1%
  Time to Breakeven117 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-49.8%-9.5%
  % Gain to Breakeven99.2%10.5%
  Time to Breakeven86 days24 days
2023 SVB Regional Banking Crisis
  % Loss-63.2%-6.7%
  % Gain to Breakeven171.4%7.1%
  Time to Breakeven1133 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.7%-24.5%
  % Gain to Breakeven94.8%32.4%
  Time to Breakeven1353 days427 days
2020 COVID-19 Crash
  % Loss-47.2%-33.7%
  % Gain to Breakeven89.4%50.9%
  Time to Breakeven448 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.9%-19.2%
  % Gain to Breakeven40.7%23.8%
  Time to Breakeven353 days105 days

Compare to ONL, NLOP, BDN, BXP, VNO

In The Past

Office Properties Income Trust's stock fell -78.1% during the 2025 US Tariff Shock. Such a loss loss requires a 356.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventOPIS&P 500
2025 US Tariff Shock
  % Loss-78.1%-18.8%
  % Gain to Breakeven356.0%23.1%
  Time to Breakeven117 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-49.8%-9.5%
  % Gain to Breakeven99.2%10.5%
  Time to Breakeven86 days24 days
2023 SVB Regional Banking Crisis
  % Loss-63.2%-6.7%
  % Gain to Breakeven171.4%7.1%
  Time to Breakeven1133 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.7%-24.5%
  % Gain to Breakeven94.8%32.4%
  Time to Breakeven1353 days427 days
2020 COVID-19 Crash
  % Loss-47.2%-33.7%
  % Gain to Breakeven89.4%50.9%
  Time to Breakeven448 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.9%-19.2%
  % Gain to Breakeven40.7%23.8%
  Time to Breakeven353 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-21.9%-3.7%
  % Gain to Breakeven28.1%3.9%
  Time to Breakeven165 days6 days
2014-2016 Oil Price Collapse
  % Loss-38.0%-6.8%
  % Gain to Breakeven61.4%7.3%
  Time to Breakeven140 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-20.7%-17.9%
  % Gain to Breakeven26.1%21.8%
  Time to Breakeven121 days123 days

Compare to ONL, NLOP, BDN, BXP, VNO

In The Past

Office Properties Income Trust's stock fell -78.1% during the 2025 US Tariff Shock. Such a loss loss requires a 356.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Office Properties Income Trust (OPI)

Office Properties Income Trust (OPI) is a Real Estate Investment Trust (REIT) focused on commercial real estate. OPI's core business revolves around the acquisition, ownership, operation, and leasing of office properties. As a REIT, OPI invests directly in income-producing real estate, allowing investors to participate in the financial performance of these properties primarily through rental income generation.

The company's primary service is providing office space for lease. OPI strategically targets properties that are predominantly leased to single tenants and prioritizes those with high credit quality characteristics. Its main customers and markets therefore include a range of organizations with strong financial standings, most notably various government entities, which are valued for their reliability and long-term lease commitments, contributing to stable occupancy and consistent revenue streams for OPI.

AI Analysis | Feedback

Here are 1-2 brief analogies for Office Properties Income Trust (OPI):

  • It's like Realty Income (O), but for office buildings leased to government and high-credit tenants, rather than retail stores.

  • It's like Boston Properties (BXP), but more focused on owning office buildings leased to just one, very reliable tenant like the government.

AI Analysis | Feedback

  • Office Property Leasing: Providing commercial office space under lease agreements to single tenants, often those with high credit quality or government entities.
  • Property Management & Operations: Overseeing the day-to-day operations, maintenance, and strategic management of its portfolio of owned office properties.

AI Analysis | Feedback

Office Properties Income Trust (OPI) leases properties primarily to single tenants and government entities. Its major customers, based on annualized cash basis rent as of December 31, 2023, include:

  • United States Government (various agencies)
  • Commonwealth of Virginia
  • Thermo Fisher Scientific Inc. (NYSE: TMO)
  • University of Maryland Medical System
  • State of California
  • Alexandria Real Estate Equities, Inc. (NYSE: ARE)
  • Leidos Holdings, Inc. (NYSE: LDOS)
  • The Hartford Financial Services Group, Inc. (NYSE: HIG)
  • Citizens Bank N.A. (a subsidiary of Citizens Financial Group, Inc., NYSE: CFG)
  • Sanofi U.S. (a subsidiary of Sanofi, NASDAQ: SNY)

AI Analysis | Feedback

The RMR Group Inc. (RMR)

AI Analysis | Feedback

Yael Duffy, President and Chief Executive Officer

Ms. Duffy has served as President of Office Properties Income Trust since 2024 and Chief Executive Officer since 2026. She is also an Executive Vice President of The RMR Group (RMR) and a member of the RMR Management Committee, responsible for directing asset management for office, industrial, and retail properties managed by RMR. Additionally, she is a Managing Trustee, President, and Chief Executive Officer of Industrial Logistics Properties Trust (ILPT). Prior to joining RMR in 2006, Ms. Duffy worked at Spaulding & Slye.

Brian Donley, Chief Financial Officer and Treasurer

Mr. Donley has been the Chief Financial Officer and Treasurer of Office Properties Income Trust since 2023. He also holds the positions of Senior Vice President of The RMR Group and Chief Financial Officer and Treasurer of Service Properties Trust (SVC). Mr. Donley has held various finance and accounting leadership roles at RMR since 1997, including previously serving as Chief Financial Officer and Treasurer of Industrial Logistics Properties Trust (ILPT). He brings over 25 years of experience in commercial real estate finance and is a certified public accountant.

Adam Portnoy, Chairman of the Board (Office Properties Income Trust), President and Chief Executive Officer (The RMR Group)

Mr. Portnoy has been a Managing Trustee of Office Properties Income Trust since 2009 and has served as Chair of its Board since 2019. He is also the President and Chief Executive Officer of The RMR Group (RMR), the external manager of OPI, and chairs the RMR Management Committee. His career includes roles as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, and in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners. Mr. Portnoy also founded and served as Chief Executive Officer of a telecommunications company. He serves on the Boards of several other companies managed by RMR or its affiliates.

Lindsey Getz, Secretary

Ms. Getz serves as the Secretary for Office Properties Income Trust.

AI Analysis | Feedback

The key risks to Office Properties Income Trust (OPI) are primarily related to the persistent challenges in the office real estate market, its significant debt obligations, and its tenant concentration.

1. Challenging Office Real Estate Market and Reduced Demand

OPI faces substantial risks due to the ongoing structural shifts in office space utilization, driven by the widespread adoption of remote and hybrid work models. This has led to fundamentally reduced demand for traditional office space, resulting in declining property valuations, lower occupancy rates, and reduced rental income for OPI. For instance, OPI experienced a sustained decline in portfolio occupancy and reported a net loss of $41.2 million in Q2 2025, with rental income also decreasing.

2. High Debt Burden and Refinancing Risk

Despite undergoing a Chapter 11 reorganization, OPI has emerged with a substantial debt burden, totaling approximately $1.46 billion. The company previously faced significant financial distress, including "substantial doubt about its ability to continue as a going concern" and mounting debt obligations, with around $1.1 billion in maturities over 24 months at the time of its bankruptcy filing. Managing this elevated debt, especially in challenging financing markets, remains a critical risk to OPI's financial stability and its ability to achieve projected deleveraging targets.

3. Tenant Concentration and Government Lease Termination Risk

While OPI's tenant roster includes approximately 220 distinct tenants, the U.S. Government represents its largest single tenant, contributing about 17.1% of annualized rental income as of June 30, 2025. This concentration exposes OPI to risks associated with federal austerity measures and telework policies. Moreover, certain government leases include termination rights linked to annual appropriations, creating a potential vulnerability for OPI's revenue stream should government demand for office space decrease or funding be withdrawn.

AI Analysis | Feedback

The widespread and sustained adoption of remote and hybrid work models poses a clear emerging threat to Office Properties Income Trust. This fundamental shift in how companies utilize office space directly impacts the demand for their core product, potentially leading to increased vacancy rates, downward pressure on rental income, and reduced asset values across their office property portfolio.

AI Analysis | Feedback

The addressable market for Office Properties Income Trust (OPI) is primarily the U.S. office real estate market, with a specific focus on single-tenant properties and those leased to high credit quality entities like government organizations.

The United States office real estate market was valued at approximately USD 1.2 trillion in 2024 and is projected to grow to around USD 1.8 trillion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 4.6% from 2025 to 2032.

A significant segment of OPI's business involves properties leased to government entities. As of March 2024, the federal government leased 176 million square feet of real estate across the United States, predominantly consisting of office and industrial properties. The broader government-occupied real estate market typically maintains an occupancy rate of around 93%.

AI Analysis | Feedback

Office Properties Income Trust (OPI) identifies several key drivers that are expected to contribute to future revenue generation over the next two to three years:

  1. Positive Rental Rate Growth on Renewed Leases: OPI has demonstrated the ability to secure renewed leases at higher rental rates. For instance, in Q2 2025, lease renewals were executed at rental rates approximately 6.4% higher than previous rates for the same spaces, contributing to annualized revenue. This trend continued into Q2 2026, with an increase in cash rents driving a notable rise in same-property cash basis Net Operating Income (NOI).
  2. Increased Tenant Expense Reimbursements: A significant factor contributing to improved comparable-property NOI has been an increase in tenant expense reimbursements. This mechanism allows OPI to recover a portion of property operating expenses from its tenants, thereby enhancing its net revenue from existing leases.
  3. Strategic Capital Investment in Leasing Activity: OPI is allocating substantial capital expenditures to support its leasing efforts. For the full year 2026, the company projects spending between $46 million and $54 million on leasing capital. These investments are aimed at attracting new tenants and retaining existing ones, which is crucial for securing and maintaining rental income.
  4. Retention of High Credit Quality and Government Tenants: OPI's investment strategy focuses on properties primarily leased to single tenants, particularly those with high credit quality characteristics, such as government entities. As of June 30, 2026, approximately 62% of OPI's revenues were derived from investment-grade rated tenants, with the U.S. Government representing a substantial portion. This focus helps maintain a stable revenue base amidst broader office market challenges.

AI Analysis | Feedback

Share Issuance

  • As part of its Chapter 11 reorganization, which concluded on June 17, 2026, all previously outstanding common shares were canceled, and approximately 22 million new common shares were issued.
  • Holders of unsecured notes received newly issued common shares and warrants to purchase additional common shares, as well as rights to participate in a $35 million equity rights offering during the restructuring.
  • In April 2025, Office Properties Income Trust announced an at-the-market (ATM) equity offering program, authorizing the sale of up to $99.7 million of common shares. The company also increased its authorized common shares from 200 million to 250 million.

Inbound Investments

  • Following the Chapter 11 reorganization, a substantial portion of OPI's common shares are now held by its noteholders, including affiliates of Helix Partners Management LP and Redwood Capital Management, LLC, through debt-for-equity swaps.
  • OPI secured a $125 million new money financing commitment to support its operations throughout the Chapter 11 restructuring process.

Capital Expenditures

  • For the full year 2026, OPI projects total capital expenditures to be between $55 million and $65 million.
  • The 2026 projected capital expenditures are allocated with $9 million to $11 million for building capital and $46 million to $54 million for leasing capital.
  • Year-to-date in 2026, OPI invested $21 million in capital expenditures, with $17 million directed towards leasing activities and $4 million for routine building maintenance. In 2024, capital expenditures were focused on recurring items (tenant improvements, commissions, and building improvements) totaling $119.0 million, a reduction from $137.6 million in redevelopment spending in 2023.

Peer Outperformance in Office REITs

OPI has outperformed 65% of its 17 Office REITs peers over 5Y. Office REITs ranks 10th of 12 industries in Real Estate by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Office REITs constituents that OPI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 19 industry peers · 6590.0% return
3Y
100%
of 18 industry peers · 244.2% return
5Y
65%
of 17 industry peers · -29.5% return
No Office REITs peer with a comparable growth profile has beaten OPI by more than 20pp over 5Y.
Median price return by industry across the Real Estate sector, ranked by 5Y. Office REITs is OPI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care REITs 15 14.1%61.9%55.4% WELL 210% · OHI 122% · CTRE 110%
Retail REITs 22 9.9%41.9%23.6% SKT 160% · SPG 87% · MAC 64%
Real Estate Development 6 -10.0%21.7%14.3% JOE 50%
Other Specialized REITs 11 0.9%26.4%13.4% IRM 201% · LAMR 77% · OUT 74%
Hotel & Resort REITs 16 61.7%61.2%13.3% HST 92% · RHP 86% · DRH 75%
Industrial REITs 11 2.7%37.7%-7.3% EGP 13% · FR 6% · TRNO 0%
Diversified REITs 13 0.8%29.6%-22.1% EPRT 8% · WPC 7% · LXP 6%
Single-Family Residential REITs 4 -1.1%7.2%-22.3% AMH -11% · ELS -21% · INVH -23%
Multi-Family Residential REITs 12 -4.4%24.7%-27.0% ESS -9% · VMRK -15% · UDR -25%
Office REITs ← 18 -9.1%37.0%-32.6% CDP 51% · SLG -3% · HIW -8%
Real Estate Services 27 -26.1%-10.0%-36.0% JLL 26% · CBRE 18% · NMRK -14%
Telecom Tower REITs 3 -2.0%14.7%-38.2% AMT -24% · CCI -38% · SBAC -43%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

OPIONLNLOPBDNBXPVNOMedian
NameOffice P.Orion Pr.Net Leas.Brandywi.BXP Vornado . 
Mkt Price13.312.459.222.9562.0034.4711.27
Mkt Cap0.30.10.10.59.96.50.4
Rev LTM-143764983,5161,829498
Op Inc LTM-3247999520379
FCF LTM--474891,28439148
FCF 3Y Avg-455251,25776055
CFO LTM-23481221,284391122
CFO 3Y Avg-44581531,257760153

Growth & Margins

OPIONLNLOPBDNBXPVNOMedian
NameOffice P.Orion Pr.Net Leas.Brandywi.BXP Vornado . 
Rev Chg LTM--6.5%-35.4%0.5%1.9%1.4%0.5%
Rev Chg 3Y Avg--11.2%-21.6%-0.7%3.2%0.1%-0.7%
Rev Chg Q--8.0%-78.2%6.9%3.1%4.7%3.1%
QoQ Delta Rev Chg LTM--2.1%-23.1%1.7%0.8%1.2%0.8%
Op Inc Chg LTM-234.9%-5.2%-3.9%-3.4%-26.3%-3.9%
Op Inc Chg 3Y Avg--35.8%-16.6%-6.0%-1.3%-12.4%-12.4%
Op Mgn LTM-1.8%31.4%15.9%28.3%11.1%15.9%
Op Mgn 3Y Avg--3.0%25.4%17.6%29.7%13.8%17.6%
QoQ Delta Op Mgn LTM-1.4%0.4%-0.8%-0.2%-2.2%-0.2%
CFO/Rev LTM-15.8%63.5%24.4%36.5%21.4%24.4%
CFO/Rev 3Y Avg-26.6%50.5%30.5%36.6%42.2%36.6%
FCF/Rev LTM--33.0%63.5%1.7%36.5%21.4%21.4%
FCF/Rev 3Y Avg-0.1%48.7%5.0%36.6%42.2%36.6%

Valuation

OPIONLNLOPBDNBXPVNOMedian
NameOffice P.Orion Pr.Net Leas.Brandywi.BXP Vornado . 
Mkt Cap0.30.10.10.59.96.50.4
P/S-1.01.81.02.83.51.8
P/Op Inc-53.25.76.59.931.79.9
P/EBIT--2.2-3.332.69.416.99.4
P/E--1.5-3.0-3.633.395.1-1.5
P/CFO-6.22.84.27.716.56.2
Total Yield--64.3%209.6%-14.5%8.6%3.3%3.3%
Dividend Yield0.0%3.3%242.9%13.5%5.6%2.2%4.4%
FCF Yield 3Y Avg-0.8%19.1%3.1%11.2%11.4%11.2%
D/E5.93.10.25.11.71.32.4
Net D/E5.73.0-0.05.01.61.22.3

Returns

OPIONLNLOPBDNBXPVNOMedian
NameOffice P.Orion Pr.Net Leas.Brandywi.BXP Vornado . 
1M Rtn-19.6%-1.6%-7.8%7.7%0.5%1.1%-0.6%
3M Rtn-23.7%-6.8%-21.9%3.7%-14.1%-15.2%-14.6%
6M Rtn6,555.0%-12.1%-28.7%3.8%10.0%17.4%6.9%
12M Rtn6,555.0%-4.7%-11.1%-7.6%-12.4%-10.3%-8.9%
3Y Rtn242.4%-35.9%179.2%11.9%38.2%85.3%61.8%
1M Excs Rtn-17.5%-2.2%-8.6%6.8%0.7%0.8%-0.8%
3M Excs Rtn-31.7%-9.5%-25.7%-4.6%-16.7%-18.3%-17.5%
6M Excs Rtn6,546.5%-20.7%-37.2%-4.8%1.4%8.9%-1.7%
12M Excs Rtn6,542.4%-16.3%-23.4%-21.6%-25.7%-22.7%-22.2%
3Y Excs Rtn161.8%-122.0%95.4%-75.8%-47.6%-1.6%-24.6%

Comparison Analyses

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Financials

Price Behavior

Price Behavior
Market Price$13.38 
Market Cap ($ Bil)0.3 
First Trading Date06/03/2009 
Distance from 52W High-30.6% 
   50 Days200 Days
DMA Price$15.99$7.80
DMA Trenddownup
Distance from DMA-16.3%71.5%
 3M1YR
Volatility52.5%8,400.1%
Downside Capture418.08-533.38
Upside Capture160.9455.54
Correlation (S&P 500)41.7%-3.3%
OPI Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.490.771.25-47.74-18.68-3.74
Up Beta1.262.011.130.440.780.78
Down Beta1.250.852.40122.4064.2618.04
Up Capture111%-17%84%15%-28%12%
Bmk +ve Days6162766132424
Stock +ve Days818293232234
Down Capture250%143%132%-27488%-12874%-63%
Bmk -ve Days16263760120328
Stock -ve Days1421323641324

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OPI
OPI-21.4%59.4%-0.92-
Sector ETF (XLRE)1.2%14.4%-0.158.5%
Equity (SPY)13.7%12.7%0.7234.1%
Gold (GLD)1.8%28.3%0.051.5%
Commodities (DBC)48.4%20.6%1.80-23.0%
Real Estate (VNQ)2.8%13.9%-0.059.7%
Bitcoin (BTCUSD)-29.4%43.4%-0.689.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OPI
OPI-61.5%92.0%-0.82-
Sector ETF (XLRE)1.0%19.1%-0.0628.6%
Equity (SPY)12.7%17.1%0.5622.0%
Gold (GLD)17.5%18.9%0.743.3%
Commodities (DBC)9.1%19.5%0.356.1%
Real Estate (VNQ)0.6%18.9%-0.0830.4%
Bitcoin (BTCUSD)4.1%51.6%0.263.6%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OPI
OPI-41.8%69.2%-0.56-
Sector ETF (XLRE)6.4%20.4%0.2736.4%
Equity (SPY)15.5%17.9%0.7329.4%
Gold (GLD)12.0%16.4%0.603.8%
Commodities (DBC)8.2%18.1%0.3711.4%
Real Estate (VNQ)5.0%20.7%0.2039.1%
Bitcoin (BTCUSD)62.3%66.2%1.026.9%

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Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.4 Mil
Short Interest: % Change Since 930202640.6%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest6.6 days
Basic Shares Quantity22.0 Mil
Short % of Basic Shares2.0%

Earnings Returns History

Updated 9/24/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2026-2.0%-0.3%-6.8%
6/4/20260.0%0.0%8,275.0%
10/31/20250.0%0.0%0.0%
7/30/20250.3%-2.6%-9.4%
4/30/2025-16.1%-32.2%-52.9%
2/13/2025-5.5%-9.5%-22.1%
10/30/2024-19.3%-29.9%-16.2%
7/31/20247.2%-11.2%-10.0%
...
SUMMARY STATS   
# Positive1288
# Negative111515
Median Positive1.3%2.6%14.5%
Median Negative-3.7%-5.8%-9.3%
Max Positive28.0%26.7%8,275.0%
Max Negative-19.3%-32.2%-52.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2026-2.0%-0.3%-6.8%
6/4/20260.0%0.0%8,275.0%
10/31/20250.0%0.0%0.0%
7/30/20250.3%-2.6%-9.4%
4/30/2025-16.1%-32.2%-52.9%
2/13/2025-5.5%-9.5%-22.1%
10/30/2024-19.3%-29.9%-16.2%
7/31/20247.2%-11.2%-10.0%
5/1/202428.0%15.3%14.5%
2/15/2024-5.8%-24.0%-51.0%
10/30/20236.1%26.7%33.6%
7/26/2023-5.1%-5.8%-9.3%
4/26/2023-0.6%-6.7%3.2%
2/15/20235.8%3.4%-26.4%
10/27/20221.9%0.0%-0.7%
7/28/20222.7%-2.6%-9.2%
4/28/2022-3.7%-7.7%-5.0%
2/16/2022-0.1%-3.9%-2.0%
10/28/2021-2.2%-1.4%-8.1%
7/29/2021-0.2%-4.8%-7.8%
4/29/20210.6%-1.3%6.0%
2/18/20210.8%4.6%14.5%
10/30/20200.4%1.9%24.7%
SUMMARY STATS   
# Positive1288
# Negative111515
Median Positive1.3%2.6%14.5%
Median Negative-3.7%-5.8%-9.3%
Max Positive28.0%26.7%8,275.0%
Max Negative-19.3%-32.2%-52.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
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Report DateFiling DateFiling
06/30/202608/06/202610-Q

Insider Activity

Updated 8/19/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Redwood, Capital Management, LlcSee footnoteSell819202619.03175,7343,344,64075,406,217Form
2Redwood, Capital Management, LlcSee footnoteSell819202619.0320,686393,57278,724,375Form
3Redwood, Capital Management, LlcSee footnotesSell813202619.001,82634,70179,024,798Form
4Redwood, Capital Management, LlcSee footnotesSell813202619.042,61649,79979,196,371Form
5Redwood, Capital Management, LlcSee footnotesSell813202619.002,41345,84779,094,226Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Redwood, Capital Management, LlcSee footnoteSell819202619.03175,7343,344,64075,406,217Form
2Redwood, Capital Management, LlcSee footnoteSell819202619.0320,686393,57278,724,375Form
3Redwood, Capital Management, LlcSee footnotesSell813202619.001,82634,70179,024,798Form
4Redwood, Capital Management, LlcSee footnotesSell813202619.042,61649,79979,196,371Form
5Redwood, Capital Management, LlcSee footnotesSell813202619.002,41345,84779,094,226Form
6Redwood, Capital Management, LlcSee footnotesSell806202619.71162,2543,198,02682,097,413Form
Core Cache Last Updated: 10/28/2026