Schwab Charles Investment Management Inc. Acquires 64,952 Shares of Select Income REIT (SIR)

Schwab Charles Investment Management Inc. raised its position in Select Income REIT (NASDAQ:SIR) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 733,508 shares of the real estate investment trust’s stock after acquiring an additional 64,952 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.82% of Select Income REIT worth $18,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its stake 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 acquiring an additional 83,346 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Select Income REIT by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,031,624 shares of the real estate investment trust’s stock valued at $24,161,000 after acquiring an additional 34,189 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 7,425 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its stake in Select Income REIT by 5.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 366,833 shares of the real estate investment trust’s stock valued at $8,591,000 after acquiring an additional 18,530 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake in Select Income REIT by 68.0% in the third quarter. Foundry Partners LLC now owns 270,324 shares of the real estate investment trust’s stock valued at $6,331,000 after acquiring an additional 109,450 shares during the last quarter. Hedge funds and other institutional investors own 47.75% of the company’s stock.

A number of brokerages have commented on SIR. Zacks Investment Research upgraded shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, December 6th. BidaskClub cut shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Morgan Stanley cut their price target on shares of Select Income REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. B. Riley reiterated a “buy” rating on shares of Select Income REIT in a research note on Tuesday. Finally, FBR & Co reiterated a “buy” rating and issued a $34.00 price target on shares of Select Income REIT in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.92.

Select Income REIT (NASDAQ SIR) opened at $19.27 on Thursday. The firm has a market cap of $1,820.16, a PE ratio of 25.69 and a beta of 0.66. Select Income REIT has a 1 year low of $19.24 and a 1 year 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.

Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings data on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.30). The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.78 million. Select Income REIT had a net margin of 14.29% and a return on equity of 3.29%. Select Income REIT’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. sell-side analysts predict that Select Income REIT will post 2.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, January 29th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 10.59%. The ex-dividend date is Friday, January 26th. Select Income REIT’s payout ratio is presently 272.00%.

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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.

Institutional Ownership by Quarter for Select Income REIT (NASDAQ:SIR)

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