Insider Buying: Select Income REIT Director Buys 275,000 Shares of Stock (SIR)
Select Income REIT (NYSE:SIR) Director Barry M. Portnoy bought 275,000 shares of the stock on the open market in a transaction dated Wednesday, July 9th. The stock was purchased at an average price of $31.51 per share, with a total value of $8,665,250.00. Following the purchase, the director now directly owns 6,812 shares in the company, valued at approximately $214,646. The purchase was disclosed in a document filed with the SEC, which is available at this link.
SIR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Select Income REIT from a “neutral” rating to an “underperform” rating in a research note on Monday, June 16th. They now have a $27.20 price target on the stock. Analysts at MLV & Co
raised their price target on shares of Select Income REIT from $27.00 to $28.00 in a research note on Monday, April 28th.
Shares of Select Income REIT (NYSE:SIR) traded up 1.46% during mid-day trading on Friday, hitting $29.14. 432,278 shares of the company’s stock traded hands. Select Income REIT has a 52 week low of $23.79 and a 52 week high of $31.47. The stock has a 50-day moving average of $29.10 and a 200-day moving average of $28.98.
Select Income REIT (NYSE:SIR) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.22. The company had revenue of $53.00 million for the quarter, compared to the consensus estimate of $53.10 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts expect that Select Income REIT will post $1.91 EPS for the current fiscal year.
Select Income REIT is a real estate company that primarily owns and invests in single tenants, net leased properties.
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