Analysts Set $26.67 Price Target for Select Income REIT (SIR)

Shares of Select Income REIT (NASDAQ:SIR) have earned a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and two have given a strong buy rating to the company. Select Income REIT’s rating score has improved by 15.3% in the last 90 days as a result of a number of analysts’ ratings changes.

Analysts have set a 1 year consensus price objective of $26.67 for the company and are predicting that the company will post $0.70 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Select Income REIT an industry rank of 226 out of 265 based on the ratings given to its competitors.

A number of research firms have recently commented on SIR. Zacks Investment Research raised Select Income REIT from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, December 6th. BidaskClub downgraded Select Income REIT from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. B. Riley reiterated a “buy” rating on shares of Select Income REIT in a report on Wednesday, November 1st. Finally, FBR & Co reiterated a “buy” rating and set a $34.00 price objective on shares of Select Income REIT in a report on Friday, October 27th.

Select Income REIT (SIR) traded down $0.29 during midday trading on Tuesday, hitting $22.08. The stock had a trading volume of 293,849 shares, compared to its average volume of 354,677. The firm has a market capitalization of $2,031.36, a price-to-earnings ratio of 22.08 and a beta of 0.77. 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 has a 52 week low of $22.07 and a 52 week high of $26.79.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 29th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 26th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 9.24%. Select Income REIT’s payout ratio is presently 204.00%.

Several large investors have recently bought and sold shares of SIR. Schwab Charles Investment Management Inc. grew its holdings in shares of Select Income REIT by 18.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 415,043 shares of the real estate investment trust’s stock worth $9,974,000 after buying an additional 64,741 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Select Income REIT by 15.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 575 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Select Income REIT by 2.6% during the second quarter. Wells Fargo & Company MN now owns 229,907 shares of the real estate investment trust’s stock worth $5,525,000 after buying an additional 5,863 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Select Income REIT by 4.6% during the second quarter. Teachers Advisors LLC now owns 134,717 shares of the real estate investment trust’s stock worth $3,237,000 after buying an additional 5,927 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Select Income REIT by 15.2% during the second quarter. TIAA CREF Investment Management LLC now owns 218,007 shares of the real estate investment trust’s stock worth $5,239,000 after buying an additional 28,749 shares in the last quarter. Institutional investors and hedge funds own 47.82% 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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