Select Income REIT (SIR) Sets New 52-Week Low at $19.32

Select Income REIT (NASDAQ:SIR)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $19.32 and last traded at $19.70, with a volume of 550100 shares. The stock had previously closed at $19.70.

A number of equities research analysts have recently weighed in on the stock. FBR & Co reissued a “buy” rating and set a $34.00 price objective on shares of Select Income REIT in a report on Friday, October 27th. BidaskClub raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating on shares of Select Income REIT in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, December 6th. Finally, Royal Bank of Canada set a $25.00 price objective on shares of Select Income REIT and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Select Income REIT presently has a consensus rating of “Hold” and an average price target of $23.92.

The firm has a market capitalization of $1,724.41, a PE ratio of 7.27 and a beta of 0.66. The company has a quick ratio of 1.51, a current ratio of 7.76 and a debt-to-equity ratio of 1.55.

Select Income REIT (NASDAQ:SIR) last released its quarterly earnings results on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.30). Select Income REIT had a return on equity of 3.31% and a net margin of 14.29%. The company had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.78 million. During the same quarter last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. equities research analysts anticipate that Select Income REIT will post 2.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, January 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 26th. This represents a $2.04 annualized dividend and a dividend yield of 10.63%. Select Income REIT’s dividend payout ratio (DPR) is presently 272.00%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in shares of Select Income REIT during the 4th quarter worth about $782,000. BB&T Securities LLC acquired a new position in shares of Select Income REIT during the 4th quarter worth about $211,000. LPL Financial LLC raised its position in shares of Select Income REIT by 6.6% during the 4th quarter. LPL Financial LLC now owns 189,194 shares of the real estate investment trust’s stock worth $4,754,000 after purchasing an additional 11,779 shares during the last quarter. Millennium Management LLC raised its position in shares of Select Income REIT by 70.1% during the 4th quarter. Millennium Management LLC now owns 555,811 shares of the real estate investment trust’s stock worth $13,968,000 after purchasing an additional 229,097 shares during the last quarter. Finally, V3 Capital Management L.P. acquired a new position in shares of Select Income REIT during the 4th quarter worth about $10,781,000. Hedge funds and other institutional investors own 47.75% of the company’s stock.

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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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