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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Office Properties Income Trust
Office Properties Income Trust (OPITQ) investor relations material
Office Properties Income Trust has been otc
Office Properties Income Trust Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary10 Nov, 2026
Executive summary
Emerged from Chapter 11 on June 17, 2026, eliminating ~$714M of debt; fresh-start accounting makes predecessor and successor results non-comparable.
Q3 net loss was $45.8M, or $2.09/share; Normalized FFO was $20.5M, or $0.93/share, and same-property Cash Basis NOI increased 14.8% YoY to $51.5M.
Sales and refinancing are reshaping the portfolio, supporting liquidity and debt repayment.
Financial highlights
Q3 rental income was $114.2M versus $109.1M in Q3 2025; NOI was $63.5M versus $57.0M, and net loss was $45.8M versus $66.3M.
FFO was $15.9M, or $0.72/share; Adjusted EBITDAre was $59.1M, with Adjusted EBITDAre/interest expense of 1.5x.
Q3 included a $5.9M real estate impairment, $5.5M net loss on property sales, and $4.2M of reorganization costs.
Q3 capital expenditures were $10.4M: $8.2M lease-related costs and $2.2M building improvements.
Outlook and guidance
2026 G&A guidance was $19M-$21M; full-year CapEx was expected to be ~$50M, including $10M building capital and $40M leasing capital.
Of 19 properties held for sale at quarter-end, 15 were under agreements for $134.1M; remaining dispositions and additional marketed assets were expected to extend into 2027, subject to closing and pricing.
An additional 26 properties totaling 3.467M sq. ft. were at various marketing stages; expected 2027 proceeds were ~$360M.
Leases representing $42.0M, or 10.8% of annualized rental income, expire on or before Dec. 31, 2027; planned sales reduce scheduled vacates or downsizes from 290,000 to 52,000 sq. ft.
Mandatory payments on the 2029 secured notes include $30M by Feb. 1, 2027 and $45M by Feb. 1 in 2028 and 2029; planned funding includes cash and asset-sale proceeds.
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Latest events from Office Properties Income Trust
- Exited bankruptcy, cut debt by $714M, and posted net loss with 122 properties and strong tenancy.OPITQ
Q2 2026 - Q1 2026 net loss widened to $93M amid bankruptcy, liquidity issues, and weak office demand.OPITQQ1 2026
- 2025 saw a $272.4M net loss, bankruptcy filing, debt restructuring, and delisting.OPITQQ4 2025
- Chapter 11 bankruptcy, declining rental income, and ongoing liquidity risks threaten viability.OPITQQ3 2025
- REIT seeks to raise up to $1B via flexible securities offerings amid significant operational risks.OPITQRegistration Filing
- Q2 profit driven by debt gain, but liquidity risks and office market headwinds remain.OPITQQ2 2024
- Substantial doubt exists about ongoing viability as $456.7M in debt matures in early 2025.OPITQQ3 2024
- Q1 2025 net loss of $45.9M, liquidity strained, and going concern risk heightened.OPITQQ1 2025
- Q4 2024: Net loss, property sales, debt exchanges, and liquidity risks amid sector headwinds.OPITQQ4 2024
Office Properties Income Trust
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Frequently asked questions
Office Properties Income Trust is a real estate investment trust focused on owning, operating, and leasing office properties. Its portfolio primarily includes single-tenant and multi-tenant office buildings, with a significant portion leased to government agencies and high-credit corporate tenants. The company’s properties are located across major U.S. metropolitan areas. The company is headquartered in Newton, Massachusetts, and its shares are listed on the NASDAQ.