Select Income REIT (NYSE:SIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Select Income REIT is a real estate company formed to primarily own and invest in net leased, single tenant properties. It has properties in Oahu, Hawaii and the mainland United States. Select Income REIT is headquartered in Newton, MA. “

Several other research analysts also recently commented on SIR. FBR & Co started coverage on shares of Select Income REIT in a research note on Monday, August 22nd. They issued an “outperform” rating and a $35.00 target price on the stock. JMP Securities raised shares of Select Income REIT from a “market perform” rating to an “outperform” rating in a research report on Monday, August 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Select Income REIT has an average rating of “Buy” and a consensus price target of $32.67.

Shares of Select Income REIT (NYSE:SIR) opened at 26.67 on Friday. Select Income REIT has a 12-month low of $17.07 and a 12-month high of $27.97. The firm has a 50-day moving average of $26.95 and a 200-day moving average of $25.02.

Select Income REIT (NYSE:SIR) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.36 by $0.36. The firm earned $114.90 million during the quarter, compared to analysts’ expectations of $114.80 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Select Income REIT will post $1.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp bought a new position in shares of Select Income REIT during the fourth quarter worth about $9,632,000. MCF Advisors LLC boosted its stake in shares of Select Income REIT by 0.7% in the second quarter. MCF Advisors LLC now owns 5,483 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 37 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $200,000. ProShare Advisors LLC acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $202,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $218,000.

Select Income REIT Company Profile

Select Income REIT is a real estate investment trust. The Company primarily owns single tenant, net leased properties. The Company’s segment is the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. The Company owns approximately 120 properties with over 44.7 million rentable square feet.

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