Analysts Offer Insights on Financial Companies: Metlife (MET) and Government Properties Income Trust (GOV)


Analysts have been eager to weigh in on the Financial sector with new ratings on Metlife (NYSE:MET) and Government Properties Income Trust (NASDAQ:GOV).

Metlife (MET)

In a report released today, Randy Binner from B.Riley FBR reiterated a Hold rating on Metlife, with a price target of $50. The company’s shares opened today at $43.60.

Binner wrote:

“MetLife (MET – Neutral, $50 PT) reported 3Q18 operating EPS of $1.38, versus the B. Riley FBR/ consensus estimates of $1.23/$1.27. The company called out $0.16 of nonrecurring notable items, which put the core result at $1.53. Net investment income of $4.4B was ahead of our estimate of $4.2B on alternative returns. With long-term-care (LTC) concerns weighing on life insurer sentiment (MET and S&P Life & Heath index –17% YTD), the confirmation by MET of positive GAAP reserve buffers in the LTC book a notable positive.”

According to TipRanks.com, Binner is a 5-star analyst with an average return of 14.5% and a 67.0% success rate. Binner covers the Financial sector, focusing on stocks such as Health Insurance Innovations, Prudential Financial Inc, and Lincoln National Corp.

Currently, the analyst consensus on Metlife is a Moderate Buy with an average price target of $52, representing a 19.3% upside. In a report released today, UBS also maintained a Hold rating on the stock with a $46 price target.

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Government Properties Income Trust (GOV)

In a report released today, Bryan Maher from B.Riley FBR maintained a Buy rating on Government Properties Income Trust, with a price target of $15. The company’s shares opened today at $8.94, close to its 52-week low of $8.44.

Maher observed:

“Trust (GOV) reported 3Q18 adjusted EBITDA of $73.6M, above our estimate of $72.1M and well above consensus’ estimate of $63.0M. Normalized FFO/share was $0.53, versus ours/consensus’ estimate of $0.50. The beat to our estimates was primarily driven by higher-than-expected top-line growth, combined with stronger results derived from GOV’s investment in Select Income REIT (SIR – Buy, $28 PT), as total rental income came in at $106.1M, ahead of our $103.8M estimate. From a same-property perspective, occupancy was unchanged from 2Q18 but declined 80 bps Y/Y , to 94.6%. In September, GOV and SIR entered into a merger agreement, in which GOV will acquire SIR.”

According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.7% and a 52.2% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Braemar Hotels & Resorts Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Government Properties Income Trust with a $12.25 average price target.

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