BidaskClub upgraded shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a buy rating in a report issued on Thursday morning.
SIR has been the subject of several other reports. Zacks Investment Research upgraded shares of Select Income REIT from a sell rating to a hold rating in a research note on Tuesday, May 8th. ValuEngine lowered shares of Select Income REIT from a hold rating to a sell rating in a research note on Wednesday, May 2nd. B. Riley decreased their price target on shares of Select Income REIT from $31.00 to $28.00 and set a buy rating for the company in a research note on Wednesday, May 2nd. Royal Bank of Canada set a $25.00 price target on shares of Select Income REIT and gave the stock a buy rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley decreased 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $22.92.
Shares of Select Income REIT opened at $21.24 on Thursday, according to Marketbeat Ratings. Select Income REIT has a 52-week low of $17.90 and a 52-week high of $26.26. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.90 billion, a PE ratio of 7.64 and a beta of 0.77.
Select Income REIT (NASDAQ:SIR) last posted its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Select Income REIT had a net margin of 19.76% and a return on equity of 4.41%. The firm had revenue of $120.60 million during the quarter, compared to analysts’ expectations of $115.93 million. During the same period last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. equities research analysts forecast that Select Income REIT will post 2.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, April 30th were paid a $0.51 dividend. The ex-dividend date was Friday, April 27th. This represents a $2.04 annualized dividend and a dividend yield of 9.60%. Select Income REIT’s payout ratio is 73.38%.
A number of large investors have recently added to or reduced their stakes in SIR. Indaba Capital Management L.P. bought a new stake in Select Income REIT during the 1st quarter valued at about $13,803,000. Echo Street Capital Management LLC purchased a new stake in shares of Select Income REIT during the 1st quarter valued at about $11,504,000. V3 Capital Management L.P. purchased a new stake in shares of Select Income REIT during the 4th quarter valued at about $10,781,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Select Income REIT during the 4th quarter valued at about $9,727,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Select Income REIT by 32.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,008,874 shares of the real estate investment trust’s stock valued at $19,653,000 after acquiring an additional 245,029 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.
Select Income REIT Company Profile
SIR is a real estate investment trust, or REIT, which owns properties that are primarily leased to single tenants. As of December 31, 2017, we owned 366 buildings, leasable land parcels and easements with approximately 45.5 million rentable square feet located in 36 states. As of December 31, 2017, our subsidiary, Industrial Logistics Properties Trust, or ILPT, owned 266 of our buildings, leasable land parcels and easements with approximately 28.5 million rentable square feet, including 226 buildings, leasable land parcels and easements with approximately 16.8 million rentable square feet which are primarily leasable industrial and commercial lands located in Hawaii.
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