Select Income REIT Upgraded by Zacks to “Neutral” (SIR)
Select Income REIT (NYSE:SIR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday. The firm currently has a $28.80 price target on the stock. Zacks‘s price objective suggests a potential upside of 2.60% from the stock’s previous close.
Shares of Select Income REIT (NYSE:SIR) traded down 0.75% during mid-day trading on Tuesday, hitting $27.86. 43,186 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’s 50-day moving average is $28.90 and its 200-day moving average is $29.17.
Select Income REIT (NYSE:SIR) last announced its earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.26. The company had revenue of $56.60 million for the quarter, compared to the consensus estimate of $57.85 million. During the same quarter last year, the company posted $0.58 earnings per share. Select Income REIT’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Select Income REIT will post $1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Friday, July 25th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Wednesday, July 23rd.
Separately, analysts at RBC Capital cut their price target on shares of Select Income REIT from $30.00 to $29.00 in a research note on Tuesday, July 29th.
Select Income REIT is a real estate company that primarily owns and invests in single tenants, net leased properties.
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