Forward Management LLC acquired a new stake in shares of Government Properties Income Trust (NYSE:GOV) during the second quarter, Holdings Channel reports. The firm acquired 1,050,000 shares of the real estate investment trust’s stock, valued at approximately $19,226,000. Government Properties Income Trust accounts for 1.6% of Forward Management LLC’s holdings, making the stock its 20th largest position.

Several other hedge funds have also recently made changes to their positions in GOV. Caxton Associates LP purchased a new stake in shares of Government Properties Income Trust during the first quarter valued at $379,000. Mason Street Advisors LLC raised its stake in shares of Government Properties Income Trust by 6.9% in the first quarter. Mason Street Advisors LLC now owns 16,635 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 1,081 shares during the period. Arizona State Retirement System raised its stake in shares of Government Properties Income Trust by 1.1% in the first quarter. Arizona State Retirement System now owns 37,047 shares of the real estate investment trust’s stock valued at $775,000 after buying an additional 400 shares during the period. Creative Planning raised its stake in shares of Government Properties Income Trust by 33.2% in the first quarter. Creative Planning now owns 11,351 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 2,827 shares during the period. Finally, Norges Bank purchased a new stake in shares of Government Properties Income Trust during the fourth quarter valued at $14,399,000.

Shares of Government Properties Income Trust (NYSE:GOV) opened at 18.11 on Thursday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 30.59 and a beta of 1.04. Government Properties Income Trust has a one year low of $17.36 and a one year high of $24.61. The stock has a 50 day moving average price of $18.67 and a 200 day moving average price of $20.39.

Government Properties Income Trust (NYSE:GOV) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $69.89 million for the quarter, compared to analyst estimates of $69.08 million. Government Properties Income Trust had a return on equity of 5.16% and a net margin of 4.64%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities research analysts forecast that Government Properties Income Trust will post $0.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, July 24th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.72 annualized dividend and a yield of 9.50%. Government Properties Income Trust’s dividend payout ratio is presently -76.11%.

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Several analysts have recently weighed in on GOV shares. Morgan Stanley restated an “underweight” rating and issued a $18.50 price objective (up previously from $17.00) on shares of Government Properties Income Trust in a report on Tuesday, June 13th. Zacks Investment Research lowered Government Properties Income Trust from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. FBR & Co restated an “outperform” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Government Properties Income Trust in a report on Wednesday, July 5th. Finally, Jefferies Group LLC restated a “sell” rating and issued a $15.00 price objective on shares of Government Properties Income Trust in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.90.

About Government Properties Income Trust

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.

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Institutional Ownership by Quarter for Government Properties Income Trust (NYSE:GOV)

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