Government Properties Income Trust (GOV) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.61 EPS for the quarter. Analysts had a consensus estimate of $0.61. The company posted revenue of $64.06 million in the period, compared to analysts expectations of $63.74 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.
Many Wall Street Analysts have commented on Government Properties Income Trust. Government Properties Income Trust was Downgraded by Jefferies to ” Underperform” on Jul 19, 2016. FBR Capital Initiated Government Properties Income Trust on Jun 16, 2016 to “Outperform”, Price Target of the shares are set at $25.
Government Properties Income Trust opened for trading at $22.55 and hit $23.21 on the upside on Thursday, eventually ending the session at $23.15, with a gain of 2.52% or 0.57 points. The heightened volatility saw the trading volume jump to 5,39,199 shares. Company has a market cap of $1,647 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.