Select Income REIT (NASDAQ:SIR) had its price objective hoisted by Deutsche Bank AG from $5.00 to $5.50 in a report issued on Thursday, October 26th. Deutsche Bank AG currently has a hold rating on the stock.
SIR has been the subject of several other research reports. Zacks Investment Research upgraded Select Income REIT from a hold rating to a buy rating and set a $27.00 price target for the company in a research report on Friday, July 7th. BidaskClub upgraded Select Income REIT from a hold rating to a buy rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Select Income REIT presently has a consensus rating of Buy and an average target price of C$22.17.
Shares of Select Income REIT (NASDAQ:SIR) opened at C$25.34 on Thursday. Select Income REIT has a twelve month low of C$22.51 and a twelve month high of C$26.79. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $2,267.61, a PE ratio of 9.46 and a beta of 0.76.
Select Income REIT (NASDAQ:SIR) last issued its earnings results on Friday, October 27th. The company reported C$0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.69 by C($0.01). Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The firm had revenue of C$118.01 million during the quarter, compared to the consensus estimate of C$116.73 million. During the same period last year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities research analysts predict that Select Income REIT will post 2.7 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $2.04 annualized dividend and a dividend yield of 8.05%. Select Income REIT’s dividend payout ratio (DPR) is presently 204.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in shares of Select Income REIT by 14.5% in the second quarter. Prudential Financial Inc. now owns 670,686 shares of the company’s stock valued at $16,116,000 after purchasing an additional 84,970 shares during the period. Citigroup Inc. raised its stake in Select Income REIT by 25.1% in the second quarter. Citigroup Inc. now owns 34,631 shares of the company’s stock worth $832,000 after buying an additional 6,938 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Select Income REIT by 1.0% in the first quarter. Public Employees Retirement System of Ohio now owns 72,930 shares of the company’s stock worth $1,881,000 after buying an additional 709 shares in the last quarter. Legal & General Group Plc raised its stake in Select Income REIT by 4.9% in the first quarter. Legal & General Group Plc now owns 161,976 shares of the company’s stock worth $4,176,000 after buying an additional 7,638 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Select Income REIT by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the company’s stock worth $139,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 48.13% of the company’s stock.
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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