Select Income REIT (SIR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a sell rating in a research note published on Thursday 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. “

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Several other equities research analysts also recently issued reports on the company. B. Riley reiterated a buy rating on shares of Select Income REIT in a report on Tuesday, February 20th. ValuEngine downgraded Select Income REIT from a buy rating to a hold rating in a report on Tuesday, February 13th. Royal Bank of Canada set a $25.00 price objective on Select Income REIT and gave the company a buy rating in a report on Tuesday, February 6th. Morgan Stanley lowered their target price 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. Finally, BidaskClub cut Select Income REIT from a sell rating to a strong sell rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Select Income REIT currently has an average rating of Hold and an average target price of $23.92.

Shares of SIR stock traded down $0.05 on Thursday, hitting $18.67. The stock had a trading volume of 91,679 shares, compared to its average volume of 407,804. The company has a current ratio of 7.76, a quick ratio of 7.76 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $1,715.46, a PE ratio of 6.71 and a beta of 0.79. Select Income REIT has a 1 year low of $17.90 and a 1 year high of $26.79.

Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings data on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.30). The firm had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $117.78 million. Select Income REIT had a net margin of 14.29% and a return on equity of 3.31%. Select Income REIT’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. research analysts predict that Select Income REIT will post 2.73 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Select Income REIT during the 3rd quarter worth $331,000. Schwab Charles Investment Management Inc. grew its stake in Select Income REIT by 9.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 733,508 shares of the real estate investment trust’s stock worth $18,434,000 after purchasing an additional 64,952 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Select Income REIT by 10.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 149,157 shares of the real estate investment trust’s stock worth $3,748,000 after purchasing an additional 13,757 shares in the last quarter. Alliancebernstein L.P. grew its stake in Select Income REIT by 17.7% during the 4th quarter. Alliancebernstein L.P. now owns 178,794 shares of the real estate investment trust’s stock worth $4,493,000 after purchasing an additional 26,880 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Select Income REIT during the 4th quarter worth about $214,000. 49.78% of the stock is owned by hedge funds and other institutional investors.

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Select Income REIT Company Profile

SIR is a real estate investment trust, or REIT, which owns properties that are primarily leased to single tenants. As of December 31, 2017, we owned 366 buildings, leasable land parcels and easements with approximately 45.5 million rentable square feet located in 36 states. As of December 31, 2017, our subsidiary, Industrial Logistics Properties Trust, or ILPT, owned 266 of our buildings, leasable land parcels and easements with approximately 28.5 million rentable square feet, including 226 buildings, leasable land parcels and easements with approximately 16.8 million rentable square feet which are primarily leasable industrial and commercial lands located in Hawaii.

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