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.

WARNING: "BidaskClub Downgrades Hospitality Properties Trust (NASDAQ:HPT) to Sell" was first reported by Community Financial News and is the property of of Community Financial News. If you are reading this story on another site, it was copied illegally and reposted in violation of USA and worldwide copyright law. The legal version of this news story can be read at https://www.thestockobserver.com/2017/07/11/pnc-financial-services-group-inc-raises-stake-in-medical-properties-trust-inc-mpw-updated-updated.html.

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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