Zacks Investment Research Upgrades Select Income REIT (SIR) to Hold
Select Income REIT (NASDAQ:SIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a research report on Friday, October 13th.
Shares of Select Income REIT (NASDAQ SIR) opened at 23.65 on Tuesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 24.64 and a beta of 0.74. Select Income REIT has a 12 month low of $22.51 and a 12 month high of $26.79. The firm has a 50 day moving average of $23.69 and a 200-day moving average of $24.06.
Select Income REIT (NASDAQ:SIR) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. The firm had revenue of $115.87 million for the quarter, compared to analyst estimates of $117.21 million. During the same period in the previous year, the firm posted $0.72 earnings per share. Analysts forecast that Select Income REIT will post $0.99 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Select Income REIT by 3,984.2% in the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 4,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Select Income REIT by 15.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 575 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Select Income REIT in the second quarter worth $123,000. Daiwa Securities Group Inc. increased its stake in shares of 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. Finally, New York State Teachers Retirement System bought a new stake in shares of Select Income REIT in the first quarter worth $142,000. 48.28% of the stock is currently owned by institutional investors and hedge funds.
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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