IFP Advisors Inc Reduces Stake in Select Income REIT (NASDAQ:SIR)
IFP Advisors Inc decreased its position in Select Income REIT (NASDAQ:SIR) by 35.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,406 shares of the real estate investment trust’s stock after selling 9,640 shares during the period. IFP Advisors Inc’s holdings in Select Income REIT were worth $418,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Select Income REIT by 3,984.2% in the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 4,024 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Select Income REIT by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 700 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $769,000. Schnieders Capital Management LLC acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $325,000. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of Select Income REIT during the second quarter worth approximately $719,000. 48.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Select Income REIT (NASDAQ:SIR) opened at 23.28 on Tuesday. Select Income REIT has a 1-year low of $22.51 and a 1-year high of $27.88.
Select Income REIT (NASDAQ:SIR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.04. The firm had revenue of $115.87 million during the quarter, compared to the consensus estimate of $117.21 million. Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. During the same period in the prior year, the company posted $0.72 EPS. Equities analysts expect that Select Income REIT will post $1.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, July 24th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 8.76%. The ex-dividend date of this dividend is Thursday, July 20th. Select Income REIT’s dividend payout ratio (DPR) is presently 210.31%.
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SIR has been the subject of several research reports. Zacks Investment Research raised Select Income REIT from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. BidaskClub raised Select Income REIT from a “hold” rating to a “buy” rating in a report on Thursday, June 15th.
Select Income REIT Company Profile
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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