Select Income REIT (SIR) Releases Earnings Results, Misses Estimates By $0.04 EPS
Select Income REIT (NASDAQ:SIR) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by $0.04, MarketWatch Earnings reports. Select Income REIT had a return on equity of 4.34% and a net margin of 19.58%. During the same period in the previous year, the firm earned $0.72 earnings per share.
Select Income REIT (NASDAQ:SIR) traded up 0.08% during trading on Wednesday, hitting $23.60. The stock had a trading volume of 15,354 shares. The stock has a market capitalization of $2.11 billion, a PE ratio of 23.37 and a beta of 0.73. Select Income REIT has a 52-week low of $23.15 and a 52-week high of $27.97.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, July 24th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.65%. The ex-dividend date of this dividend is Thursday, July 20th. Select Income REIT’s payout ratio is currently 201.98%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Select Income REIT during the second quarter worth $123,000. Daiwa Securities Group Inc. raised its position in shares of 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 last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Select Income REIT during the first quarter worth $141,000. New York State Teachers Retirement System purchased a new position in shares of Select Income REIT during the first quarter worth $142,000. Finally, Quantbot Technologies LP raised its position in shares of 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 last quarter. Hedge funds and other institutional investors own 49.04% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Select Income REIT from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. BidaskClub upgraded Select Income REIT from a “hold” rating to a “buy” rating in a report on Thursday, June 15th.
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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