Government Properties Income Trust (GOV) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.62 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.61. The company posted revenue of $63.61 million in the period, compared to analysts expectations of $62.93 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on Government Properties Income Trust. Shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Underperform” and Lowered the Price Target to $ 14 from a previous price target of $15 .
Government Properties Income Trust opened for trading at $18.54 and hit $18.72 on the upside on Wednesday, eventually ending the session at $18.64, with a gain of 0.43% or 0.08 points. The heightened volatility saw the trading volume jump to 9,99,552 shares. Company has a market cap of $1,326 M.
Government Properties Income Trust is a real estate investment trust (REIT). The Company operates in two business segments: ownership of properties that are primarily leased to Government tenants and its equity method investment in Select Income REIT (SIR). The Company’s properties are located in Alabama Arizona California Florida Kentucky Massachusetts New Jersey New York Texas Washington and Wyoming. The Company’s properties (64 buildings) with approximately 7.7 million rentable square feet are primarily leased to the United States Government 18 of those properties (24 buildings) with approximately 2.6 million rentable square feet primarily leased to 12 state governments one of those properties (one building) with 187060 Rentable square feet is leased to the United Nations an international intergovernmental organization and three of those properties (three buildings) with 507788 rentable square feet primarily leased to non-government tenants.