Newton REIT Government Properties Income Trust has reported $5.4 million in net income for the fourth quarter, compared to $8.2 million for the same quarter in 2008.

Funds from operations (FFO) for the fourth quarter were $10.2 million, compared to FFO for the quarter ended Dec. 31, 2008 of $11.8 million.

In 2009, the company reported $26 million in net income, compared to $31.8 million for the same period in 2008.

FFO in 2009 was $42.2 million, compared to FFO of $46 million in 2008.

Since the completion of its IPO, Government Properties Income Trust has acquired five properties and it has entered into a binding purchase and sale agreement to acquire one additional property for an aggregate purchase price of $161.7 million, which includes the assumption of $35.3 million of mortgage debt that is not currently prepayable and excludes closing costs, according to a statement.

On Jan. 14, the company issued 8.5 million common shares at a price of $21.50 per share in a public offering. On Jan. 19, the underwriters exercised their over allotment option in full to purchase 1.28 million additional common shares. The sale of 9.78 million common shares raised gross proceeds of $210.2 million. The funds from this offering were used to reduce amounts outstanding under GOV’s secured revolving credit facility and to fund business activities, including funding some of GOV’s acquisitions, according to a statement.