Great West Life Assurance Co. Can grew its stake in Select Income REIT (NASDAQ:SIR) by 31.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,577 shares of the real estate investment trust’s stock after purchasing an additional 3,211 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Select Income REIT were worth $265,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. V3 Capital Management L.P. acquired a new stake in Select Income REIT during the fourth quarter worth about $10,781,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Select Income REIT during the fourth quarter worth about $9,727,000. Massachusetts Financial Services Co. MA raised its stake in Select Income REIT by 32.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,008,874 shares of the real estate investment trust’s stock worth $19,653,000 after acquiring an additional 245,029 shares during the period. Millennium Management LLC raised its stake in Select Income REIT by 70.1% during the fourth quarter. Millennium Management LLC now owns 555,811 shares of the real estate investment trust’s stock worth $13,968,000 after acquiring an additional 229,097 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Select Income REIT during the fourth quarter worth about $3,692,000. Institutional investors and hedge funds own 47.83% of the company’s stock.
NASDAQ SIR opened at $22.20 on Friday. Select Income REIT has a 52 week low of $17.90 and a 52 week high of $26.26. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 7.99 and a beta of 0.82.
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 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 quarter in the prior year, the firm earned $0.59 EPS. Select Income REIT’s quarterly revenue was up 3.7% on a year-over-year basis. equities analysts expect that Select Income REIT will post 2.68 earnings per share for the current year.
Several equities research analysts recently weighed in on SIR shares. ValuEngine upgraded shares of Select Income REIT from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. BidaskClub lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Zacks Investment Research lowered shares of Select Income REIT from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. B. Riley decreased their target price on shares of Select Income REIT from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. Finally, Morgan Stanley decreased their target price on shares of Select Income REIT from $22.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.92.
Select Income REIT Profile
SIR is a real estate investment trust, or REIT, which owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, Industrial Logistics Properties Trust, or ILPT, properties that are primarily leased to single tenants. As of March 31, 2018, our consolidated portfolio included 366 buildings, leasable land parcels and easements with approximately 45.5 million rentable square feet located in 36 states.
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