Select Income REIT (SIR) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a buy rating in a research note published on Friday morning.

Separately, Zacks Investment Research raised shares of Select Income REIT from a sell rating to a hold rating in a research note on Tuesday, September 5th.

Select Income REIT (SIR) traded up 0.61% during mid-day trading on Friday, hitting $24.62. 159,056 shares of the stock traded hands. The stock has a market cap of $2.20 billion, a PE ratio of 25.65 and a beta of 0.74. The company has a 50 day moving average of $23.46 and a 200-day moving average of $24.14. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $26.79.

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). The firm had revenue of $115.87 million during the quarter, compared to analyst estimates of $117.21 million. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Select Income REIT will post $0.99 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd will be paid a $0.51 dividend. The ex-dividend date is Friday, October 20th. This represents a $2.04 annualized dividend and a yield of 8.29%. Select Income REIT’s dividend payout ratio is currently 210.31%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its stake in Select Income REIT by 3,984.2% in the 2nd quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 4,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Select Income REIT by 15.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 575 shares during the period. Nisa Investment Advisors LLC acquired a new position in Select Income REIT in the 2nd quarter valued at $123,000. Ameritas Investment Partners Inc. acquired a new position in Select Income REIT in the 1st quarter valued at $141,000. Finally, New York State Teachers Retirement System acquired a new position in Select Income REIT in the 1st quarter valued at $142,000. 48.23% of the stock is currently 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 ap

Separately, Zacks Investment Research raised shares of Select Income REIT from a sell rating to a hold rating in a research note on Tuesday, September 5th.

Select Income REIT (SIR) traded up 0.61% during mid-day trading on Friday, hitting $24.62. 159,056 shares of the stock traded hands. The stock has a market cap of $2.20 billion, a PE ratio of 25.65 and a beta of 0.74. The company has a 50 day moving average of $23.46 and a 200-day moving average of $24.14. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $26.79.

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). The firm had revenue of $115.87 million during the quarter, compared to analyst estimates of $117.21 million. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Select Income REIT will post $0.99 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://ledgergazette.com/2017/10/14/select-income-reit-sir-upgraded-to-buy-by-bidaskclub.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd will be paid a $0.51 dividend. The ex-dividend date is Friday, October 20th. This represents a $2.04 annualized dividend and a yield of 8.29%. Select Income REIT’s dividend payout ratio is currently 210.31%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its stake in Select Income REIT by 3,984.2% in the 2nd quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 4,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Select Income REIT by 15.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 575 shares during the period. Nisa Investment Advisors LLC acquired a new position in Select Income REIT in the 2nd quarter valued at $123,000. Ameritas Investment Partners Inc. acquired a new position in Select Income REIT in the 1st quarter valued at $141,000. Finally, New York State Teachers Retirement System acquired a new position in Select Income REIT in the 1st quarter valued at $142,000. 48.23% of the stock is currently 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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