Zacks Investment Research Downgrades Government Properties Income Trust (GOV) to Sell

Government Properties Income Trust (NYSE:GOV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Government Properties Income Trust is a real estate investment trust (REIT). The Company was formed to invest in properties that are leased to government tenants. The Company owns 29 properties, 25 of which are leased primarily to the United States Government and four of which are leased to the states of California, Maryland, Minnesota and South Carolina, respectively. The Company is a wholly owned subsidiary of HRPT Properties Trust (HRPT). “

A number of other analysts also recently issued reports on the company. Jefferies Group LLC reaffirmed a “sell” rating and issued a $15.00 target price on shares of Government Properties Income Trust in a research report on Tuesday, June 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $18.00 target price (down previously from $18.50) on shares of Government Properties Income Trust in a research report on Friday, September 1st. FBR & Co reaffirmed an “outperform” rating and issued a $23.00 target price (down previously from $25.00) on shares of Government Properties Income Trust in a research report on Wednesday, July 5th. Finally, DA Davidson initiated coverage on Government Properties Income Trust in a research report on Friday, September 29th. They issued a “neutral” rating and a $20.00 target price on the stock. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.40.

Government Properties Income Trust (NYSE GOV) opened at 19.08 on Monday. The stock’s 50 day moving average price is $18.56 and its 200-day moving average price is $19.97. Government Properties Income Trust has a one year low of $17.36 and a one year high of $22.99. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 32.23 and a beta of 1.04.

Government Properties Income Trust (NYSE:GOV) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $69.89 million for the quarter, compared to the consensus estimate of $69.08 million. Government Properties Income Trust had a return on equity of 5.16% and a net margin of 4.64%. Government Properties Income Trust’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. Analysts forecast that Government Properties Income Trust will post $0.45 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in GOV. Daiwa Securities Group Inc. increased its position in Government Properties Income Trust by 14.3% during the second quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 800 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Government Properties Income Trust during the first quarter worth approximately $127,000. Riverhead Capital Management LLC increased its position in Government Properties Income Trust by 70.1% during the second quarter. Riverhead Capital Management LLC now owns 7,826 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 3,226 shares during the last quarter. SG Americas Securities LLC acquired a new position in Government Properties Income Trust during the second quarter worth approximately $145,000. Finally, Flinton Capital Management LLC increased its position in Government Properties Income Trust by 70.1% during the second quarter. Flinton Capital Management LLC now owns 7,922 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 3,264 shares during the last quarter.

Government Properties Income Trust Company Profile

Government Properties Income Trust is a real estate investment trust (REIT). The Company operates through two 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 areas, including Alabama, Arizona, California, Colorado, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New Jersey and New Mexico.

Analyst Recommendations for Government Properties Income Trust (NYSE:GOV)

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