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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Office Properties Income Trust    OPI

OFFICE PROPERTIES INCOME TRUST

(OPI)
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OFFICE PROPERTIES INCOME TRUST : Change in Directors or Principal Officers (form 8-K)

10/16/2020 | 04:15pm EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

            Appointment of Certain Officers; Compensatory Arrangements of Certain
            Officers.



On October 9, 2020, David M. Blackman announced his decision to retire and therefore resign as our President and Chief Executive Officer, effective December 31, 2020, and as one of our Managing Trustees, effective as of June 30, 2021 or such earlier date as his successor Managing Trustee is elected to our Board of Trustees, or our Board. On that same date, our Board appointed Christopher J. Bilotto, our Vice President and Chief Operating Officer, as our successor President, effective January 1, 2021, in addition to continuing in his current office of Chief Operating Officer.

Mr. Bilotto, age 43, has served as our Vice President since May 2019 and as our Chief Operating Officer since May 2020. Mr. Bilotto also serves as senior vice president of The RMR Group LLC, or RMR LLC, responsible for portfolio management oversight for all office, industrial and retail properties managed by RMR LLC, and is also responsible for all development and redevelopment activities at RMR LLC across the United States. Mr. Bilotto joined RMR LLC in 2011 and has served in various capacities with RMR LLC since that time.

Mr. Bilotto has advised us that he has no arrangement or understanding with any other person pursuant to which he was appointed as President, and, except as set forth below, Mr. Bilotto has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Bilotto does not have a family relationship with any member of our Board or any of our executive officers.

Information Regarding Certain Relationships and Related Person Transactions

We have relationships and historical and continuing transactions with RMR LLC, The RMR Group Inc., or RMR Inc., and others related to them. For example: we have no employees and the personnel and various services we require to operate our business are provided to us by RMR LLC pursuant to our business and property management agreements with RMR LLC; RMR Inc. is the managing member of RMR LLC; Adam Portnoy, the Chair of our Board of Trustees and one of our Managing Trustees, is the sole trustee, an officer and the controlling shareholder of ABP Trust, which is the controlling shareholder of RMR Inc., a managing director, the president and chief executive officer of RMR Inc. and an officer and employee of RMR LLC; David M. Blackman also serves as an officer and employee of RMR LLC; and each of our other officers is also an officer and employee of RMR LLC. We have relationships and historical and continuing transactions with other companies to which RMR LLC or its subsidiaries provide management services and some of which have trustees, directors or officers who are also trustees, directors or officers of us, RMR LLC or RMR Inc. and some of our Trustees and officers serve as trustees, directors or officers of these companies.

For further information about these and other such relationships and related person transactions, please see our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, or our Quarterly Report, our Annual Report on Form 10-K for the year ended December 31, 2019, or our Annual Report, our definitive Proxy Statement for our 2020 Annual Meeting of Shareholders, or our Proxy Statement, and our other filings with the Securities and Exchange Commission, or the SEC, including Notes 10 and 11 to our condensed consolidated financial statements included in our Quarterly Report and the sections captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations-Related Person Transactions" and "Warning Concerning Forward-Looking Statements" of our Quarterly Report, Notes 4 and 5 to our consolidated financial statements included in our Annual Report and the sections captioned "Business", "Management's Discussion and Analysis of Financial Condition and Results of Operations-Related Person Transactions" and "Warning Concerning Forward-Looking Statements" of our Annual Report and the section captioned "Related Person Transactions" and the information regarding our Trustees and executive officers included in our Proxy Statement. In addition, please see the section captioned "Risk Factors" of our Annual Report for a description of risks that may arise as a result of these and other such relationships and related person transactions. Our filings with the SEC and copies of certain of our agreements with these related parties are publicly available as exhibits to our public filings with the SEC and accessible at the SEC's website, www.sec.gov.




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Financials (USD)
Sales 2020 590 M - -
Net income 2020 5,23 M - -
Net Debt 2020 2 088 M - -
P/E ratio 2020 420x
Yield 2020 8,44%
Capitalization 1 260 M 1 260 M -
EV / Sales 2020 5,68x
EV / Sales 2021 5,61x
Nbr of Employees -
Free-Float 98,2%
Chart OFFICE PROPERTIES INCOME TRUST
Duration : Period :
Office Properties Income Trust Technical Analysis Chart | OPI | US67623C1099 | MarketScreener
Technical analysis trends OFFICE PROPERTIES INCOME TRUST
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 25,00 $
Last Close Price 26,07 $
Spread / Highest target 45,8%
Spread / Average Target -4,10%
Spread / Lowest Target -27,1%
EPS Revisions
Managers and Directors
NameTitle
Christopher J. Bilotto President & Chief Operating Officer
Adam David Portnoy Chairman & Managing Trustee
Matthew C. Brown Chief Financial Officer & Treasurer
Barbara D. Gilmore Independent Trustee
David M. Blackman Managing Trustee
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