BidaskClub Upgrades Select Income REIT (SIR) to “Buy”
Select Income REIT (NASDAQ:SIR) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other analysts have also recently issued reports on SIR. Zacks Investment Research cut Select Income REIT from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG upped their target price on Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, FBR & Co reissued a “buy” rating and issued a $34.00 target price on shares of Select Income REIT in a research report on Friday, October 27th.
Shares of Select Income REIT (SIR) opened at $24.59 on Tuesday. The stock has a market capitalization of $2,200.00, a PE ratio of 9.18 and a beta of 0.75. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.51 and a quick ratio of 1.51. Select Income REIT has a 1 year low of $22.51 and a 1 year high of $26.79.
Select Income REIT (NASDAQ:SIR) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). The firm had revenue of $118.01 million during the quarter, compared to analyst estimates of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. research analysts anticipate that Select Income REIT will post 2.7 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Select Income REIT by 5,038.0% during the 1st quarter. BlackRock Inc. now owns 5,406,092 shares of the real estate investment trust’s stock worth $139,422,000 after acquiring an additional 5,300,875 shares during the period. Northern Trust Corp lifted its position in Select Income REIT by 7.5% during the 2nd quarter. Northern Trust Corp now owns 1,693,476 shares of the real estate investment trust’s stock worth $40,694,000 after acquiring an additional 118,408 shares during the period. State Street Corp lifted its position in Select Income REIT by 5.6% during the 2nd quarter. State Street Corp now owns 1,565,702 shares of the real estate investment trust’s stock worth $37,624,000 after acquiring an additional 83,346 shares during the period. Dimensional Fund Advisors LP lifted its position in Select Income REIT by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 997,435 shares of the real estate investment trust’s stock worth $23,968,000 after acquiring an additional 23,041 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Select Income REIT by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 753,163 shares of the real estate investment trust’s stock worth $17,638,000 after acquiring an additional 7,425 shares during the period. 48.49% of the stock is owned by institutional investors.
About Select Income REIT
Select Income REIT is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of December 31, 2016, the Company owned 121 properties (362 buildings, leasable land parcels and easements) with approximately 44.8 million rentable square feet.
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