Select Income REIT (SIR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Select Income REIT (NASDAQ:SIR) from a buy rating to a hold rating in a report published on Thursday, January 18th.

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. “

Several other equities research analysts also recently weighed in on SIR. B. Riley reaffirmed a buy rating on shares of Select Income REIT in a report on Wednesday, November 1st. BidaskClub downgraded Select Income REIT from a buy rating to a hold rating in a report on Saturday, October 28th. FBR & Co reissued a buy rating and issued a $34.00 target price on shares of Select Income REIT in a report on Friday, October 27th. Finally, Deutsche Bank raised their target price on Select Income REIT from $5.00 to $5.50 and gave the company a hold rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $23.92.

Shares of Select Income REIT (NASDAQ SIR) traded down $0.29 during midday trading on Thursday, hitting $20.11. The company had a trading volume of 522,960 shares, compared to its average volume of 345,093. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.21. Select Income REIT has a 52-week low of $19.41 and a 52-week high of $26.79. The firm has a market capitalization of $1,800.00, a P/E ratio of 20.11 and a beta of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 29th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 10.14%. The ex-dividend date of this dividend is Friday, January 26th. Select Income REIT’s dividend payout ratio is presently 204.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of SIR. Schwab Charles Investment Management Inc. grew its holdings in Select Income REIT by 61.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 668,556 shares of the real estate investment trust’s stock valued at $15,658,000 after buying an additional 253,513 shares during the period. TIAA FSB purchased a new stake in Select Income REIT in the 2nd quarter valued at about $3,415,000. BlackRock Inc. grew its holdings in Select Income REIT by 2.3% in the 4th quarter. BlackRock Inc. now owns 5,690,703 shares of the real estate investment trust’s stock valued at $143,008,000 after buying an additional 129,475 shares during the period. Citadel Advisors LLC grew its holdings in Select Income REIT by 354.4% in the 2nd quarter. Citadel Advisors LLC now owns 160,976 shares of the real estate investment trust’s stock valued at $3,868,000 after buying an additional 125,553 shares during the period. Finally, Opus Capital Group LLC purchased a new stake in Select Income REIT in the 4th quarter valued at about $2,987,000. Institutional investors own 47.80% of the company’s stock.

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About Select Income REIT

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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