Short Interest in Select Income REIT (SIR) Declines By 30.7%
Select Income REIT (NASDAQ:SIR) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 792,618 shares, a drop of 30.7% from the October 13th total of 1,143,097 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 276,515 shares, the short-interest ratio is presently 2.9 days.
Select Income REIT (SIR) opened at $25.39 on Tuesday. The stock has a market capitalization of $2,267.61, a PE ratio of 9.46 and a beta of 0.76. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.51 and a quick ratio of 1.51. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $26.79.
Select Income REIT (NASDAQ:SIR) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.01). The firm 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 revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. equities analysts anticipate that Select Income REIT will post 2.7 EPS for the current fiscal year.
Several equities research analysts recently commented on SIR shares. BidaskClub raised Select Income REIT from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. FBR & Co reaffirmed a “buy” rating and set a $34.00 price objective on shares of Select Income REIT in a research report on Friday, October 27th. B. Riley reissued a “buy” rating on shares of Select Income REIT in a research report on Wednesday, November 1st. Zacks Investment Research cut Select Income REIT from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Deutsche Bank AG raised their target price on Select Income REIT from $5.00 to $5.50 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Select Income REIT has a consensus rating of “Buy” and an average price target of $22.17.
A number of large investors have recently made changes to their positions in SIR. Sei Investments Co. raised 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 period. Nisa Investment Advisors LLC bought a new position in shares of Select Income REIT in the second quarter worth about $123,000. New York State Teachers Retirement System bought a new position in shares of Select Income REIT in the first quarter worth about $142,000. Finally, Daiwa Securities Group Inc. raised 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 period. 48.13% of the stock is currently owned by institutional investors and hedge funds.
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About Select Income REIT
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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