Wells Fargo Downgrades Government Properties (GOV) to Underperform; Shares Now Fall Within Valuation Range

Wells Fargo downgraded Government Properties (NYSE: GOV) from Market Perform to Underperform.

Wells analyst said, "...Given the convergence of a less compelling valuation story, the potential for weaker fundamentals due to likely tenant moveouts and increasing TIs, lower yields on acquisitions, and increasing financing costs—we don’t see the potential for many positive catalysts to drive outperformance for GOV shares, and there is the potential for underperformance if earnings estimates get reduced."

For more ratings news on Government Properties click here and for the rating history of Government Properties click here.

Shares of Government Properties closed at $27.34 yesterday.

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