First Trust Advisors LP raised its position in Select Income REIT (NASDAQ:SIR) by 480.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,417 shares of the real estate investment trust’s stock after buying an additional 93,060 shares during the quarter. First Trust Advisors LP owned approximately 0.13% of Select Income REIT worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Select Income REIT by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,031,624 shares of the real estate investment trust’s stock valued at $24,161,000 after buying an additional 34,189 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Select Income REIT by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 753,163 shares of the real estate investment trust’s stock valued at $17,638,000 after buying an additional 7,425 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Select Income REIT by 9.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 733,508 shares of the real estate investment trust’s stock valued at $18,434,000 after buying an additional 64,952 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Select Income REIT by 3.3% during the fourth quarter. Foundry Partners LLC now owns 279,180 shares of the real estate investment trust’s stock worth $7,016,000 after purchasing an additional 8,856 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of Select Income REIT by 3.5% during the third quarter. ClariVest Asset Management LLC now owns 244,200 shares of the real estate investment trust’s stock worth $5,720,000 after purchasing an additional 8,300 shares during the last quarter. Institutional investors own 49.83% of the company’s stock.
Several research firms have recently commented on SIR. Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Royal Bank of Canada set a $25.00 price target on Select Income REIT and gave the stock a “buy” rating in a research note on Tuesday, February 6th. ValuEngine cut Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub cut Select Income REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, Morgan Stanley cut their price target on Select Income REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Select Income REIT currently has a consensus rating of “Hold” and an average target price of $23.92.
Select Income REIT (NASDAQ:SIR) opened at $19.09 on Friday. Select Income REIT has a twelve month low of $17.90 and a twelve month high of $26.79. The firm has a market capitalization of $1,704.72, a price-to-earnings ratio of 25.45 and a beta of 0.82. The company has a current ratio of 7.76, a quick ratio of 7.76 and a debt-to-equity ratio of 1.55.
Select Income REIT (NASDAQ:SIR) last announced its quarterly earnings data on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.30). Select Income REIT had a return on equity of 3.31% and a net margin of 14.29%. The business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.78 million. During the same period in the prior year, the company earned $0.71 EPS. The company’s revenue was up 2.7% on a year-over-year basis. analysts expect that Select Income REIT will post 2.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, January 29th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date was Friday, January 26th. Select Income REIT’s dividend payout ratio is presently 272.00%.
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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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