Several brokerages have updated their recommendations and price targets on shares of Select Income REIT (NASDAQ: SIR) in the last few weeks:

  • 10/28/2017 – Select Income REIT was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/27/2017 – Select Income REIT had its “buy” rating reaffirmed by analysts at FBR & Co. They now have a $34.00 price target on the stock. They wrote, “Select Income REIT posted mostly in-line 3Q17 results that were only slightly mixed versus estimates. Adjusted EBITDA increased 2.8% to $85.7 million, a beat compared to our estimate of $85.4 million and consensus estimate of $85.3 million. Normalized FFO per diluted share came in at $0.68, just missing ours and consensus estimate of $0.69. The key reason for the FFO/share differential was higher interest expense ($24.4 million) than our estimate ($23.4 million). Occupancy was a very healthy 96.2%, above our estimate of 96.1% and 2Q17 occupancy of 95.9%. In short, SIR delivered a solid quarter and investors, in our view, should be more constructive on the shares given that management continues to deliver stable results, a very attractive (and well covered) $2.04/share dividend (8.5% yield), and SIR remains investment-grade rated. We continue to believe investors are missing the evidence that ~37% of the SIR portfolio is comprised of industrial assets, which trade at a materially higher multiple (~23.8x 2017E EBITDA) than office (~17.0x) and SIR, now at 13.5x. Although the shares traded well on Friday (+4.0%), we think a potential spin-off of the industrial assets could yield material shareholder gains.””
  • 10/26/2017 – Select Income REIT had its price target raised by analysts at Deutsche Bank AG from $5.00 to $5.50. They now have a “hold” rating on the stock.
  • 10/24/2017 – Select Income REIT was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 10/13/2017 – Select Income REIT was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/29/2017 – Select Income REIT was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 9/22/2017 – Select Income REIT was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 9/5/2017 – Select Income REIT was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

Select Income REIT (NASDAQ:SIR) last released its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.01). The business had revenue of $118.01 million during the quarter, compared to analysts’ expectations of $116.73 million. Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, October 23rd will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date of this dividend is Friday, October 20th. Select Income REIT’s payout ratio is presently 204.00%.

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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