Select Income REIT (SIR) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Select Income REIT (NASDAQ:SIR) from a sell rating to a hold rating in a research report report published on Friday morning.
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. “
Separately, BidaskClub raised Select Income REIT from a hold rating to a buy rating in a report on Thursday, June 15th.
Shares of Select Income REIT (SIR) opened at 23.42 on Friday. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $27.52.
Select Income REIT (NASDAQ:SIR) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.04). Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. The company had revenue of $115.87 million during the quarter, compared to analyst estimates of $117.21 million. During the same quarter in the previous year, the business posted $0.72 EPS. Equities analysts forecast that Select Income REIT will post $0.99 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Select Income REIT by 3.2% during the first quarter. Vanguard Group Inc. now owns 11,650,458 shares of the real estate investment trust’s stock worth $300,466,000 after purchasing an additional 364,408 shares during the period. BlackRock Inc. grew its stake in shares of Select Income REIT by 5,038.0% in the 1st quarter. BlackRock Inc. now owns 5,406,092 shares of the real estate investment trust’s stock valued at $139,422,000 after purchasing an additional 5,300,875 shares during the period. Northern Trust Corp grew its stake in shares of Select Income REIT by 7.5% in the 2nd quarter. Northern Trust Corp now owns 1,693,476 shares of the real estate investment trust’s stock valued at $40,694,000 after purchasing an additional 118,408 shares during the period. State Street Corp grew its stake in shares of Select Income REIT by 5.6% in the 2nd quarter. State Street Corp now owns 1,565,702 shares of the real estate investment trust’s stock valued at $37,624,000 after purchasing an additional 83,346 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Select Income REIT by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 997,435 shares of the real estate investment trust’s stock valued at $23,968,000 after purchasing an additional 23,041 shares during the period. Hedge funds and other institutional investors own 48.23% of the company’s stock.
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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