Government Properties Income Trust Rating Increased to Outperform at Zacks (GOV)
Government Properties Income Trust (NYSE:GOV) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday. The firm currently has a $27.90 price objective on the stock. Zacks‘s target price points to a potential upside of 21.20% from the company’s current price.
Shares of Government Properties Income Trust (NYSE:GOV) traded up 1.30% during mid-day trading on Monday, hitting $23.32. The stock had a trading volume of 455,837 shares. Government Properties Income Trust has a 1-year low of $22.75 and a 1-year high of $26.30. The stock’s 50-day moving average is $24.51 and its 200-day moving average is $24.9. The company has a market cap of $1.639 billion and a P/E ratio of 28.31.
Government Properties Income Trust (NYSE:GOV) last announced its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.02. The company had revenue of $62.43 million for the quarter, compared to the consensus estimate of $60.87 million. During the same quarter last year, the company posted $0.54 earnings per share. Government Properties Income Trust’s revenue was up 11.6% compared to the same quarter last year. On average, analysts predict that Government Properties Income Trust will post $2.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date of this dividend is Wednesday, July 23rd.
In other Government Properties Income Trust news, Director Adam Portnoy purchased 360,000 shares of the stock on the open market in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $23.50 per share, with a total value of $8,460,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of Government Properties Income Trust from $23.00 to $22.00 in a research note on Tuesday, July 22nd. Analysts at MLV & Co
initiated coverage on shares of Government Properties Income Trust in a research note on Thursday, July 17th. They set a “hold” rating and a $23.00 price target on the stock.
Government Properties Income Trust (NYSE:GOV) is a real estate investment trust (REIT).
To view Zacks’ full report, visit Zacks’ official website.
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