ValuEngine upgraded shares of Select Income REIT (NASDAQ:SIR) from a sell rating to a hold rating in a report published on Tuesday.
Several other research firms also recently commented on SIR. Morgan Stanley raised shares of Select Income REIT from an underweight rating to an equal weight rating and upped their price objective for the company from $19.00 to $24.00 in a report on Wednesday, September 19th. JMP Securities downgraded shares of Select Income REIT to a hold rating in a report on Monday, September 17th. BidaskClub downgraded shares of Select Income REIT from a sell rating to a strong sell rating in a report on Wednesday, September 5th. TheStreet downgraded shares of Select Income REIT from a b- rating to a c rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Select Income REIT from a hold rating to a sell rating in a report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $23.75.
SIR traded down $0.50 during trading on Tuesday, hitting $19.39. 2,040,968 shares of the company traded hands, compared to its average volume of 609,173. The firm has a market cap of $1.96 billion, a P/E ratio of 6.97, a PEG ratio of 3.74 and a beta of 0.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.62 and a current ratio of 1.62. Select Income REIT has a one year low of $17.90 and a one year high of $26.26.
Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.49). The company had revenue of $116.00 million for the quarter, compared to the consensus estimate of $118.56 million. Select Income REIT had a net margin of 16.59% and a return on equity of 3.55%. Select Income REIT’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Equities research analysts predict that Select Income REIT will post 2.14 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Select Income REIT in the second quarter worth about $126,000. Bridgeworth LLC purchased a new stake in shares of Select Income REIT in the second quarter worth about $144,000. Eii Capital Management Inc. lifted its holdings in shares of Select Income REIT by 118.8% in the second quarter. Eii Capital Management Inc. now owns 9,221 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 5,006 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Select Income REIT in the second quarter worth about $218,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Select Income REIT in the second quarter worth about $219,000. 49.01% of the stock is currently owned by hedge funds and other institutional investors.
About Select Income REIT
SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, Industrial Logistics Properties Trust, or ILPT, properties that are primarily net leased to single tenants. As of June 30, 2018, our consolidated portfolio included 367 buildings, leasable land parcels and easements with approximately 45.7 million rentable square feet located in 36 states.
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