The U.S. government is the country’s largest employer, with 4.2 million workers. To put that number into perspective, this figure is larger than the number of employees working at Walmart Inc (NYSE:WMT), Amazon.com, Inc. (NASDAQ:AMZN), and Kroger Co (NYSE:KR) combined. All of these government employees need to work somewhere. But rather than owning office space itself, federal agencies lease most of their buildings from private-sector firms. At last count, the U.S. government was renting over 56,000 properties nationwide. These deals can be lucrative. Agencies usually sign long-term rental agreements, to begin with. Plus, they tend to pay their bills on time. And because the government has plenty of taxpayer cash on hand, employees don’t fret about how much gets paid in rent.
One of Uncle Sam’s biggest landlords is Government Properties Income Trust (NASDAQ:GOV). The partnership buys office buildings, leases them out to government agencies, and pays out the profits to shareholders. At last count, the business owned 105 properties across 30 states. Government Properties Income Trust’s tenants include agencies such as U.S. Immigration and Customs Enforcement (ICE), the Federal Bureau of Investigation (FBI), and the Centers for Disease Control and Prevention (CDC). The Internal Revenue Service (IRS) makes up the partnership’s largest renter by square footage, accounting for nearly 10% of rental income.
Source: Income Investors
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