Select Income REIT (NASDAQ:SIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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 downgraded Select Income REIT from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.

Shares of Select Income REIT (NASDAQ:SIR) traded down 0.25% on Friday, reaching $23.80. 175,183 shares of the company were exchanged. Select Income REIT has a 12-month low of $23.14 and a 12-month high of $27.97.

Select Income REIT (NASDAQ:SIR) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.04. The firm had revenue of $115.87 million during the quarter, compared to the consensus estimate of $117.21 million. Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, analysts expect that Select Income REIT will post $1.11 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Select Income REIT by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 700 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Select Income REIT during the second quarter worth $769,000. Schnieders Capital Management LLC purchased a new stake in Select Income REIT during the second quarter worth $325,000. Bowling Portfolio Management LLC purchased a new stake in Select Income REIT during the second quarter worth $719,000. Finally, Naples Global Advisors LLC increased its stake in Select Income REIT by 9.5% in the second quarter. Naples Global Advisors LLC now owns 55,933 shares of the real estate investment trust’s stock worth $1,344,000 after buying an additional 4,870 shares during the last quarter. Institutional investors own 49.04% 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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