Government Properties Income Trust (GOV) Shares Up 6.1% After Earnings Beat

Shares of Government Properties Income Trust (NASDAQ:GOV) shot up 6.1% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $9.48 and last traded at $9.37. 3,035,383 shares changed hands during mid-day trading, an increase of 127% from the average session volume of 1,337,276 shares. The stock had previously closed at $8.83.

The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Government Properties Income Trust had a net margin of 7.42% and a return on equity of 2.16%. The firm had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $103.90 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue was up 51.2% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Monday, October 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 18.36%. The ex-dividend date of this dividend is Friday, October 26th. Government Properties Income Trust’s dividend payout ratio (DPR) is currently 85.15%.

Several brokerages have issued reports on GOV. Zacks Investment Research cut shares of Government Properties Income Trust from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub upgraded shares of Government Properties Income Trust from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Morgan Stanley upgraded shares of Government Properties Income Trust from an “underweight” rating to an “equal weight” rating and set a $10.00 price target for the company in a research report on Tuesday, October 16th. B. Riley set a $17.00 price target on shares of Government Properties Income Trust and gave the company a “buy” rating in a research report on Wednesday, September 19th. Finally, DA Davidson set a $13.00 price objective on shares of Government Properties Income Trust and gave the company a “hold” rating in a research note on Tuesday, September 18th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.60.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Government Properties Income Trust by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,680,894 shares of the real estate investment trust’s stock valued at $26,642,000 after purchasing an additional 15,572 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Government Properties Income Trust in the 2nd quarter valued at $168,000. Verition Fund Management LLC bought a new stake in shares of Government Properties Income Trust in the 2nd quarter valued at $316,000. Truvestments Capital LLC bought a new stake in shares of Government Properties Income Trust in the 2nd quarter valued at $240,000. Finally, Chicago Equity Partners LLC bought a new stake in shares of Government Properties Income Trust in the 2nd quarter valued at $1,768,000. 57.95% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $897.45 million, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.25.

Government Properties Income Trust Company Profile (NASDAQ:GOV)

Government Properties Income Trust is a real estate investment trust, or REIT, which primarily owns properties located throughout the United States that are majority leased to the U.S. Government and other government tenants and office properties in the metropolitan Washington, DC market area that are leased to government and private sector tenants.

Featured Article: Analyst Ratings

Receive News & Ratings for Government Properties Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Government Properties Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply