Government Properties Income Trust (GOV) was Downgraded by Jefferies to ” Underperform”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Jul 19, 2016.
Many Wall Street Analysts have commented on Government Properties Income Trust. FBR Capital Initiated Government Properties Income Trust on Jun 16, 2016 to “Outperform”, Price Target of the shares are set at $25.
On the company’s financial health, Government Properties Income Trust reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.61. The company had revenue of $63.61 million for the quarter, 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.
Government Properties Income Trust opened for trading at $24.04 and hit $24.33 on the upside on Monday, eventually ending the session at $24.195, with a gain of 0.35% or 0.085 points. The heightened volatility saw the trading volume jump to 7,56,952 shares. Company has a market cap of $1,721 M.
Investors should note that on Jul 12, 2016, Government Properties Income Trust announced a cash dividend of $0.4300. The company’s management has announced Jul 20, 2016 as the ex-dividend date and fixed the record date on Jul 22, 2016. The payable date has been fixed on Aug 22, 2016.
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.