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Government Properties Income Trust: Proposed REIT merger is credit neg...

The merger provides Government Properties with increased scale and addresses several operating challenges, while Select Income will lose some asset type diversification and increase leverage

Government Properties Income Trust: Update following Select Income mer...

Our credit view of GOV, reflecting its expanding business strategy and high occupancy levels. Leverage is expected to decline with planned asset sales.

Select Income REIT: Update following merger announcement

Our credit view of SIR, reflecting negative credit implications of the proposed merger, external management structure, strong liquidity and long-term leases providing earnings stability.

Moody's affirms GOV's ratings, outlook remains negative; Select Income...

Moody's Investors Service ("Moody's") has affirmed the Baa3 senior unsecured rating of Government Properties Income Trust (GOV). The outlook remains negative. Concurrently, Moody's also affirmed the ratings of Select Income REIT (SIR), including its Baa3 senior unsecured rating. SIR's ...

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Upgrading Staples, downgrading Energy Defensive Sector rotations continued last week as treasury yields remained suppressed. Price and RS trends improved for telecom, REITs, staples, pharma, and utilities. Energy and materials were the laggards as commodity prices tumbled, due in part to global growth and trade concerns. Leadership from defensive Sectors is not what we would expect as the S&P 500 approaches the 2,873 all-time high set in January, but it has certainly improved market breadth. W...

Government Properties Income Trust: Update to credit analysis

Our credit view of GOV, reflecting its position within the government office segment, which lends itself to higher occupancy. Leverage is high following its acquisition of First Potomac.

 PRESS RELEASE

Government Properties Income Trust Announces First Quarter 2018 Result...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced its financial results for the quarter ended March 31, 2018. David Blackman, President and Chief Operating Officer of GOV, made the following statement: “Government Properties Income Trust saw continued positive leasing momentum in the first quarter of 2018, entering new and renewal leases for over 280,000 square feet with a 4.9% average roll up in rent. Same property occupancy increased to 95.3% during the quarter, a 20 ...

 PRESS RELEASE

Select Income REIT Announces First Quarter 2018 Results

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced financial results for the quarter ended March 31, 2018. David Blackman, President and Chief Operating Officer of SIR, made the following statement: “During the first quarter of 2018, Select Income REIT made important progress executing its strategic operating plan. Our consolidated subsidiary, Industrial Logistics Properties Trust (ILPT), completed its initial public offering, allowing us to create a pure play industrial REIT at ...

 PRESS RELEASE

Government Properties Income Trust Announces Quarterly Dividend on Com...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced a regular quarterly cash distribution on its common shares of $0.43 per common share ($1.72 per share per year). This distribution will be paid to GOV’s common shareholders of record as of the close of business on April 30, 2018 and distributed on or about May 21, 2018. Government Properties Income Trust is a real estate investment trust, or REIT, which primarily owns properties located throughout the United States that are major...

 PRESS RELEASE

Select Income REIT Announces Quarterly Dividend on Common Shares

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced a regular quarterly cash distribution on its common shares of $0.51 per common share ($2.04 per share per year). This distribution will be paid to SIR’s common shareholders of record as of the close of business on April 30, 2018 and distributed on or about May 17, 2018. Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is managed by the operating subsidiary o...

 PRESS RELEASE

Government Properties Income Trust First Quarter 2018 Conference Call ...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced that it will issue a press release containing its first quarter 2018 financial results before the Nasdaq opens on Thursday, May 3, 2018. At 11:00 a.m. Eastern Time that morning, President David Blackman and Chief Financial Officer Mark Kleifges will host a conference call to discuss these results. The conference call telephone number is (877) 328-1172. Participants calling from outside the United States and Canada should dial (41...

 PRESS RELEASE

Select Income REIT First Quarter 2018 Conference Call Scheduled for Tu...

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that it will issue a press release containing its first quarter 2018 financial results before the Nasdaq opens on Tuesday, May 1, 2018. At 10:00 a.m. Eastern Time that morning, President David Blackman and Chief Financial Officer John Popeo will host a conference call to discuss these results. The conference call telephone number is (877) 328-4494. Participants calling from outside the United States and Canada should dial (412) 317-5433. No pass...

 PRESS RELEASE

Government Properties Income Trust Announces Two Office Buildings Reco...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced that two of its properties have been designated as 360 Performance Buildings by the Building Owners and Managers Association (BOMA) International Program Council. The properties are located at 2020 S. Arlington Heights Road in Arlington Heights, IL, and One Montvale Avenue, in Stoneham, MA. The BOMA 360 Performance Program® sets standards that are often referred to in the market for operational best practices in the commercial re...

 PRESS RELEASE

Select Income REIT Announces Property Achieves LEED Gold Certification

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that its property located at 2555 Grand Boulevard in Kansas City, MO, achieved LEED Gold Certification from the US Green Building Council (USGBC). This 595,607 square foot, Class A office building earned 60-79 points across several categories, including energy use and air quality, indicating that it is a highly efficient and sustainable green building. The property is managed by The RMR Group LLC. The RMR Group LLC manages Select Income REIT and...

 PRESS RELEASE

Government Properties Income Trust Names Mark L. Kleifges as Managing ...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced that Mark L. Kleifges has been elected as a Managing Trustee of GOV effective April 3, 2018 to fill a vacancy on the Board. Mr. Kleifges (age 57) has been the Chief Financial Officer of GOV since 2011. In addition, Mr. Kleifges is Executive Vice President of The RMR Group LLC and serves as an executive officer of other publicly traded companies managed by The RMR Group LLC. Prior to joining The RMR Group in 2002, Mr. Kleifges was...

 PRESS RELEASE

Select Income REIT Names David M. Blackman as Managing Trustee

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that David M. Blackman has been elected as a Managing Trustee of SIR effective April 2, 2018 to fill a vacancy on the Board. Mr. Blackman (age 55) has been President and Chief Operating Officer of SIR since 2012. In addition, Mr. Blackman is Executive Vice President of The RMR Group LLC and serves as an executive officer of other publicly traded companies managed by The RMR Group LLC. Prior to joining The RMR Group in 2009, Mr. Blackman was a re...

 PRESS RELEASE

Government Properties Income Trust Earns 2018 ENERGY STAR® Partner of...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) is proud to announce that it received the 2018 ENERGY STAR Partner of the Year Award for its outstanding efforts to protect the environment through building energy management. GOV’s accomplishments will be recognized by the U.S. Environmental Protection Agency and the U.S. Department of Energy at a ceremony in Washington, D.C. on April 20, 2018. “We are proud to receive this award,” said David Blackman, President and Chief Operating Officer. “Th...

 PRESS RELEASE

Government Properties Income Trust Announces Fourth Quarter and Year E...

NEWTON, Mass.--(BUSINESS WIRE)-- Government Properties Income Trust (Nasdaq: GOV) today announced its financial results for the quarter and year ended December 31, 2017. David Blackman, President and Chief Operating Officer of GOV, made the following statement: “Government Properties Income Trust completed significant leasing volume in the fourth quarter of 2017, entering new and renewal leases for over 520,000 square feet with a 3.3% average roll up in rent. We also experienced solid operating results as evidenced b...

 PRESS RELEASE

The RMR Group and its Managed Companies Announce the Death of The RMR ...

NEWTON, Mass.--(BUSINESS WIRE)-- The RMR Group Inc. (Nasdaq: RMR), Government Properties Income Trust (Nasdaq: GOV), Hospitality Properties Trust (Nasdaq: HPT), Industrial Logistics Properties Trust (Nasdaq: ILPT), Select Income REIT (Nasdaq: SIR), Senior Housing Properties Trust (Nasdaq: SNH); Tremont Mortgage Trust (Nasdaq: TRMT), Five Star Senior Living Inc. (Nasdaq: FVE), TravelCenters of America LLC (Nasdaq: TA) and RMR Real Estate Income Fund (NYSE American: RIF) today announced the following: “It is with great sadness ...

 PRESS RELEASE

Select Income REIT Announces Fourth Quarter and Year End 2017 Results

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq:SIR) today announced financial results for the quarter and year ended December 31, 2017. David Blackman, President and Chief Operating Officer of SIR, made the following statement: “During the fourth quarter of 2017, Select Income REIT’s core operations were solid, as evidenced by our 1.2% increase in same property Cash Basis NOI and our strong leasing volume. We completed over 568,000 square feet of leases for rents that were 21% higher than previous...

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