ClariVest Asset Management LLC raised its stake in Select Income REIT (NASDAQ:SIR) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,200 shares of the real estate investment trust’s stock after purchasing an additional 8,300 shares during the quarter. ClariVest Asset Management LLC owned about 0.27% of Select Income REIT worth $5,720,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Select Income REIT by 5,038.0% in the first quarter. BlackRock Inc. now owns 5,406,092 shares of the real estate investment trust’s stock valued at $139,422,000 after purchasing an additional 5,300,875 shares during the period. Northern Trust Corp raised its position in Select Income REIT by 7.5% in the second quarter. Northern Trust Corp now owns 1,693,476 shares of the real estate investment trust’s stock valued at $40,694,000 after purchasing an additional 118,408 shares during the period. State Street Corp raised its position in Select Income REIT by 5.6% in the second quarter. State Street Corp now owns 1,565,702 shares of the real estate investment trust’s stock valued at $37,624,000 after purchasing an additional 83,346 shares during the period. Dimensional Fund Advisors LP raised its position in Select Income REIT by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 997,435 shares of the real estate investment trust’s stock valued at $23,968,000 after purchasing an additional 23,041 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Select Income REIT by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 753,163 shares of the real estate investment trust’s stock valued at $17,638,000 after purchasing an additional 7,425 shares during the period. 48.07% of the stock is currently owned by institutional investors.
Shares of Select Income REIT (NASDAQ SIR) traded up $0.19 during midday trading on Monday, hitting $25.49. The stock had a trading volume of 295,532 shares, compared to its average volume of 286,502. Select Income REIT has a twelve month low of $22.51 and a twelve month high of $26.79. The stock has a market capitalization of $2,280.00, a price-to-earnings ratio of 9.44 and a beta of 0.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.51 and a current ratio of 1.51.
Select Income REIT (NASDAQ:SIR) last announced its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. research analysts expect that Select Income REIT will post 2.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, October 23rd were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 8.00%. The ex-dividend date of this dividend was Friday, October 20th. Select Income REIT’s dividend payout ratio is currently 204.00%.
A number of analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating on shares of Select Income REIT in a research report on Wednesday, November 1st. Zacks Investment Research raised Select Income REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. BidaskClub raised Select Income REIT from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Deutsche Bank lifted their target price on Select Income REIT from $5.00 to $5.50 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, FBR & Co reaffirmed a “buy” rating and set a $34.00 target price on shares of Select Income REIT in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.17.
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Select Income REIT Company Profile
Select Income REIT is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of December 31, 2016, the Company owned 121 properties (362 buildings, leasable land parcels and easements) with approximately 44.8 million rentable square feet.
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