Zacks: Analysts Expect Government Properties Income Trust (GOV) Will Announce Quarterly Sales of $70.28 Million
Analysts expect Government Properties Income Trust (NYSE:GOV) to post $70.28 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Government Properties Income Trust’s earnings, with the highest sales estimate coming in at $70.68 million and the lowest estimate coming in at $69.87 million. Government Properties Income Trust reported sales of $64.48 million in the same quarter last year, which would indicate a positive year over year growth rate of 9%. The business is expected to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Government Properties Income Trust will report full year sales of $70.28 million for the current fiscal year. For the next year, analysts anticipate that the company will report sales of $423.69 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Government Properties Income Trust.
Government Properties Income Trust (NYSE:GOV) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Government Properties Income Trust had a return on equity of 5.16% and a net margin of 4.64%. The company had revenue of $69.89 million during the quarter, compared to analysts’ expectations of $69.08 million. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis.
Several equities analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “sell” rating and issued a $14.00 target price on shares of Government Properties Income Trust in a report on Thursday. Zacks Investment Research lowered Government Properties Income Trust from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. FBR & Co reaffirmed an “outperform” rating and issued a $23.00 target price (down from $25.00) on shares of Government Properties Income Trust in a report on Wednesday, July 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $18.50 target price (up from $17.00) on shares of Government Properties Income Trust in a report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Government Properties Income Trust currently has a consensus rating of “Hold” and a consensus target price of $18.80.
Shares of Government Properties Income Trust (GOV) opened at 18.31 on Friday. Government Properties Income Trust has a 52-week low of $18.30 and a 52-week high of $18.53.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Archford Capital Strategies LLC grew its holdings in Government Properties Income Trust by 294.9% during the second quarter. Archford Capital Strategies LLC now owns 8,045 shares of the real estate investment trust’s stock valued at $927,000 after purchasing an additional 6,008 shares during the period. Cetera Investment Advisers bought a new position in Government Properties Income Trust during the second quarter valued at $348,000. Dynamic Technology Lab Private Ltd bought a new position in Government Properties Income Trust during the second quarter valued at $348,000. Koch Industries Inc. bought a new position in Government Properties Income Trust during the second quarter valued at $630,000. Finally, Verition Fund Management LLC bought a new position in Government Properties Income Trust during the second quarter valued at $461,000.
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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