Notable Moving Stock: Government Properties Income Trust (GOV)

Bruno Cirelli
Luglio 11, 2017

FBR & Co now has a $23.00 price target on the real estate investment trust's stock, down from their prior price target of $25.00.

"Last week, GOV announced it would acquire First Potomac Realty Trust for approximately $1.4B, including $11.15 per FPO share and the repayment and/or assumption of FPO debt". GOV expects the deal to be accretive post-2018. The transaction is estimated to be completed at a 7.0% cap rate, and GOV expects no impact on its current shareholder distributions (dividends), which are now $0.43/quarter ($1.72 annualized), a 9.3% yield on Monday's close ($18.46). In our view, the acquisition of FPO, with its Washington, D.C. -focused portfolio, is a good fit for GOV as numerous properties are leased to government agencies and/or contractors. Float is the number of shares available for trading of a particular stock.

In terms of Government Properties Income Trust (GOV) stock price comparison to its moving averages, shares of company are -17.89% away from the 50-day moving average and -16.66% away from 20-day average. Zacks Investment Research upgraded shares of Government Properties Income Trust from a hold rating to a buy rating and set a $22.00 target price on the stock in a research note on Thursday, June 29th. Finally, Robert W. Baird restated a "neutral" rating and issued a $32.00 target price (up previously from $31.00) on shares of Hospitality Properties Trust in a research note on Friday, June 16th. Zacks Investment Research cut Hospitality Properties Trust from a "buy" rating to a "hold" rating in a research note on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of "Hold" and a consensus price target of $19.10.

Hospitality Properties Trust (NASDAQ HPT) traded up 0.10% on Friday, reaching $28.72.

For the Current Quarter, the growth estimate for Government Properties Income Trust is -29.2%, while for the Next Quarter the stock growth estimate is -12.5%. The stock has a market capitalization of $4.77 billion, a PE ratio of 25.51 and a beta of 1.01. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. The company had revenue of $488.60 million for the quarter, compared to analysts' expectations of $482.04 million. Government Properties Income Trust (NASDAQ:GOV)'s price to free cash flow for trailing twelve months is 0. The value of the total investment in Government Properties Income Tr decreased from $1,354,000 to $4,000 a change of $1,350,000 quarter to quarter. During the same quarter in the previous year, the business posted $0.93 EPS.

Government Properties Income Trust (NYSE:GOV) last posted its earnings results on Thursday, April 27th.

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Several other hedge funds and other institutional investors have also bought and sold shares of HPT. Vanguard Group Inc. increased its position in shares of Hospitality Properties Trust by 3.3% in the first quarter. Bank of New York Mellon Corp raised its position in shares of Medical Properties Trust by 79.4% in the first quarter. Lastly, Ameriprise Financial increased its position in Hospitality Properties Trust by 23.1% in the Q1. Salem Investment Counselors Inc owns 83,275 shares valued at $1,745,000. WFG Advisors LP increased its position in Government Properties Income Trust by 81.5% in the first quarter. WFG Advisors LP now owns 7,642 shares of the real estate investment trust's stock worth $160,000 after buying an additional 3,432 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Hospitality Properties Trust during the fourth quarter worth about $10,728,000.

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