Zacks: Select Income REIT (SIR) Given Average Recommendation of “Hold” by Brokerages
Shares of Select Income REIT (NASDAQ:SIR) have been given a consensus broker rating score of 2.75 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation, one has given a sell recommendation and two have given a strong buy recommendation to the company.
Analysts have set a 12 month consensus price target of $26.00 for the company and are expecting that the company will post $0.69 EPS for the current quarter, according to Zacks. Zacks has also assigned Select Income REIT an industry rank of 211 out of 265 based on the ratings given to related companies.
SIR has been the topic of several recent research reports. BidaskClub upgraded Select Income REIT from a “hold” rating to a “buy” rating in a 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 reaffirmed a “buy” rating on shares of Select Income REIT in a research report on Wednesday, November 1st. Zacks Investment Research raised Select Income REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Deutsche Bank upped their price objective 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.
Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The company had revenue of $118.01 million for the quarter, compared to analysts’ expectations of $116.73 million. During the same quarter last year, the company earned $0.69 EPS. Select Income REIT’s revenue for the quarter was up 2.6% compared to the same quarter last year. research analysts forecast that Select Income REIT will post 2.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, October 23rd were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.00%. Select Income REIT’s dividend payout ratio (DPR) is presently 204.00%.
A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in Select Income REIT by 21.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,352 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 3,637 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Select Income REIT during the 3rd quarter worth approximately $331,000. Eii Capital Management Inc. purchased a new position in shares of Select Income REIT during the 3rd quarter worth approximately $618,000. California Public Employees Retirement System raised its stake in shares of Select Income REIT by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 114,691 shares of the real estate investment trust’s stock worth $2,686,000 after buying an additional 3,391 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Select Income REIT by 11.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 44,299 shares of the real estate investment trust’s stock worth $1,039,000 after buying an additional 4,718 shares in the last quarter. 48.07% of the stock is owned by institutional investors.
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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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