Select Income REIT (NASDAQ:SIR) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.67.
SIR has been the topic of several research reports. ValuEngine lowered Select Income REIT from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Morgan Stanley raised Select Income REIT from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $19.00 to $24.00 in a research note on Wednesday, September 19th. BidaskClub lowered Select Income REIT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 5th. JMP Securities lowered Select Income REIT to a “hold” rating in a research report on Monday, September 17th. Finally, Zacks Investment Research raised Select Income REIT from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 31st.
A number of hedge funds have recently bought and sold shares of the business. Manikay Partners LLC acquired a new stake in shares of Select Income REIT during the 3rd quarter worth about $24,236,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Select Income REIT during the 3rd quarter worth about $11,221,000. American Century Companies Inc. raised its position in shares of Select Income REIT by 59.7% during the 2nd quarter. American Century Companies Inc. now owns 941,292 shares of the real estate investment trust’s stock worth $21,151,000 after acquiring an additional 351,939 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Select Income REIT during the 3rd quarter worth about $5,573,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Select Income REIT by 17.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,361,214 shares of the real estate investment trust’s stock worth $29,865,000 after acquiring an additional 203,656 shares in the last quarter. 50.06% of the stock is currently owned by institutional investors.
SIR traded down $0.21 during mid-day trading on Friday, hitting $19.19. 23,487 shares of the stock were exchanged, compared to its average volume of 635,262. Select Income REIT has a 1-year low of $17.90 and a 1-year high of $26.26. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 6.93, a PEG ratio of 3.42 and a beta of 0.81.
Select Income REIT (NASDAQ:SIR) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.16. Select Income REIT had a return on equity of 3.33% and a net margin of 16.05%. The firm had revenue of $121.88 million for the quarter, compared to analyst estimates of $116.17 million. During the same quarter in the prior year, the company earned $0.68 EPS. Select Income REIT’s revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Select Income REIT will post 2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, October 29th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 10.63%. The ex-dividend date of this dividend was Friday, October 26th. Select Income REIT’s dividend payout ratio is currently 73.38%.
Select Income REIT Company Profile
SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, ILPT, properties that are primarily net leased to single tenants. As of September 30, 2018, our consolidated portfolio included 368 buildings, leasable land parcels and easements with approximately 45.8 million rentable square feet located in 36 states.
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