Revenue Update on Government Properties Income Trust(NYSE:GOV)

Government Properties Income Trust(NYSE:GOV) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $64.06M. Analysts estimated a revenue of $63.77M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.61.

In a different note, On Jul 19, 2016, Jefferies said it Downgrades its rating on Government Properties Income Trust. The shares have been rated ‘Underperform’ by the firm. FBR Capital said it Initiates Coverage on Government Properties Income Trust, according to a research note issued on Jun 16, 2016. The shares have been rated ‘Outperform’ by the firm.

Government Properties Income Trust (GOV) made into the market gainers list on Thursdays trading session with the shares advancing 0.53% or 0.125 points. Due to strong positive momentum, the stock ended at $23.73, which is also near the day’s high of $23.83. The stock began the session at $23.63 and the volume stood at 4,24,195 shares. The 52-week high of the shares is $24.6 and the 52 week low is $12.33. The company has a current market capitalization of $1,688 M and it has 7,11,38,808 shares in outstanding.

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.

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