Select Income REIT (SIR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $29.00 price target on the real estate investment trust’s stock.

According to Zacks, “Select Income REIT is a real estate company formed to primarily own and invest in net leased, single tenant properties. It has properties in Oahu, Hawaii and the mainland United States. Select Income REIT is headquartered in Newton, MA. “

A number of other equities research analysts have also recently commented on the stock. B. Riley reissued a buy rating on shares of Select Income REIT in a research report on Wednesday, November 1st. BidaskClub raised shares of Select Income REIT from a hold rating to a buy rating in a report on Tuesday, November 7th. FBR & Co reaffirmed a buy rating and issued a $34.00 price target on shares of Select Income REIT in a report on Friday, October 27th. Finally, Deutsche Bank raised their price target on shares of Select Income REIT from $5.00 to $5.50 and gave the stock a hold rating in a report on Thursday, October 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Select Income REIT presently has a consensus rating of Buy and an average target price of $22.83.

Select Income REIT (NASDAQ:SIR) traded up $0.12 during trading hours on Wednesday, reaching $25.25. 132,868 shares of the company were exchanged, compared to its average volume of 251,645. Select Income REIT has a 12 month low of $22.51 and a 12 month high of $26.79. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $2,248.82, a PE ratio of 9.38 and a beta of 0.77.

Select Income REIT (NASDAQ:SIR) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The firm had revenue of $118.01 million for the quarter, compared to analysts’ expectations of $116.73 million. During the same period in the previous year, the company earned $0.69 EPS. The company’s revenue was up 2.6% on a year-over-year basis. equities analysts anticipate that Select Income REIT will post 2.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.08%. Select Income REIT’s dividend payout ratio is currently 204.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. increased its stake in shares of Select Income REIT by 14.5% in the second quarter. Prudential Financial Inc. now owns 670,686 shares of the real estate investment trust’s stock worth $16,116,000 after acquiring an additional 84,970 shares during the period. Citigroup Inc. increased its stake in shares of Select Income REIT by 25.1% in the second quarter. Citigroup Inc. now owns 34,631 shares of the real estate investment trust’s stock worth $832,000 after acquiring an additional 6,938 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Select Income REIT by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 700 shares during the period. Northern Capital Management LLC increased its stake in shares of Select Income REIT by 30.2% in the second quarter. Northern Capital Management LLC now owns 106,495 shares of the real estate investment trust’s stock worth $2,559,000 after acquiring an additional 24,690 shares during the period. Finally, Boulegeris Investments Inc. increased its stake in shares of Select Income REIT by 3.9% in the third quarter. Boulegeris Investments Inc. now owns 162,375 shares of the real estate investment trust’s stock worth $3,803,000 after acquiring an additional 6,100 shares during the period. 48.07% of the stock is owned by institutional investors and hedge funds.

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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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