Select Income REIT (SIR) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a buy rating in a research note issued to investors on Friday. Zacks Investment Research currently has $28.00 price target on the real estate investment trust’s stock.
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. “
Other equities analysts have also issued reports about the stock. B. Riley reissued a buy rating on shares of Select Income REIT in a research report on Wednesday, November 1st. FBR & Co reissued a buy rating and set a $34.00 price target on shares of Select Income REIT in a research report on Friday, October 27th. BidaskClub raised shares of Select Income REIT from a hold rating to a buy rating in a research report on Friday, October 13th. Finally, Deutsche Bank raised their price target on shares of Select Income REIT from $5.00 to $5.50 and gave the stock a hold rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $22.50.
Select Income REIT (NASDAQ:SIR) traded up $0.13 during mid-day trading on Friday, reaching $24.22. 178,021 shares of the company were exchanged, compared to its average volume of 319,500. The firm has a market cap of $2,170.00, a PE ratio of 24.22 and a beta of 0.79. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.21. Select Income REIT has a one year low of $22.51 and a one year high of $26.79.
Select Income REIT (NASDAQ:SIR) last released its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The company had revenue of $118.01 million during the quarter, compared to analyst estimates of $116.73 million. During the same quarter last year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts anticipate that Select Income REIT will post 2.68 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its position in Select Income REIT by 3,984.2% during the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Select Income REIT by 15.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 575 shares during the last quarter. Schroder Investment Management Group purchased a new position in Select Income REIT during the 3rd quarter worth approximately $185,000. Great West Life Assurance Co. Can raised its position in Select Income REIT by 68.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 3,697 shares during the last quarter. Finally, Suntrust Banks Inc. raised its position in Select Income REIT by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 191 shares during the last quarter. 48.07% of the stock is owned by institutional investors.
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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