Northern Capital Management LLC grew its holdings in shares of Select Income REIT (NASDAQ:SIR) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,930 shares of the real estate investment trust’s stock after buying an additional 11,030 shares during the period. Select Income REIT accounts for about 1.0% of Northern Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Northern Capital Management LLC owned 0.17% of Select Income REIT worth $3,818,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in Select Income REIT in the third quarter worth approximately $185,000. Lourd Capital LLC acquired a new position in Select Income REIT in the fourth quarter worth approximately $218,000. Great West Life Assurance Co. Can grew its position in Select Income REIT by 68.4% in the third quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 3,697 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Select Income REIT by 2.0% in the 2nd quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 191 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new position in Select Income REIT in the 4th quarter worth approximately $251,000. 47.80% of the stock is currently owned by institutional investors.
SIR has been the subject of a number of recent analyst reports. Deutsche Bank raised their price objective on shares of Select Income REIT from $5.00 to $5.50 and gave the stock a “hold” rating in a research note on Thursday, October 26th. BidaskClub lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, December 6th. Finally, FBR & Co reissued a “buy” rating and set a $34.00 target price on shares of Select Income REIT in a research note on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Select Income REIT currently has a consensus rating of “Hold” and a consensus price target of $23.92.
Select Income REIT (NASDAQ:SIR) remained flat at $$20.11 during mid-day trading on Wednesday. 389,900 shares of the company’s stock traded hands, compared to its average volume of 359,088. 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 twelve month low of $19.41 and a twelve month high of $26.79. The firm has a market cap of $1,799.59, a price-to-earnings ratio of 20.11 and a beta of 0.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 29th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 10.14%. The ex-dividend date of this dividend is Friday, January 26th. Select Income REIT’s payout ratio is presently 204.00%.
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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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