Select Income REIT (NASDAQ:SIR) Raised to Buy at Zacks Investment Research
Select Income REIT (NASDAQ:SIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $27.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 15.48% from the stock’s current price.
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. “
Separately, BidaskClub upgraded Select Income REIT from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th.
Shares of Select Income REIT (NASDAQ:SIR) opened at 23.38 on Friday. Select Income REIT has a 52-week low of $23.25 and a 52-week high of $27.97.
Select Income REIT (NASDAQ:SIR) last released its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $116.29 million during the quarter, compared to analyst estimates of $116.50 million. Select Income REIT had a return on equity of 4.34% and a net margin of 19.58%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, equities analysts forecast that Select Income REIT will post $1.11 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Daiwa Securities Group Inc. raised its stake in Select Income REIT by 37.8% in the first quarter. Daiwa Securities Group Inc. now owns 5,100 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 1,400 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Select Income REIT during the first quarter worth about $141,000. New York State Teachers Retirement System bought a new stake in Select Income REIT during the first quarter worth about $142,000. Quantbot Technologies LP raised its stake in Select Income REIT by 129.0% in the first quarter. Quantbot Technologies LP now owns 6,703 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 3,776 shares during the period. Finally, Ruggie Capital Group bought a new stake in Select Income REIT during the first quarter worth about $173,000. Institutional investors and hedge funds own 49.03% of the company’s stock.
Select Income REIT Company Profile
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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