Select Income REIT (NASDAQ:SIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $29.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.58% from the company’s current price.

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. “

Several other equities research analysts have also weighed in on the company. Deutsche Bank boosted their target price on Select Income REIT from $5.00 to $5.50 and gave the stock a “hold” rating in a report on Thursday, October 26th. FBR & Co restated a “buy” rating and issued a $34.00 target price on shares of Select Income REIT in a report on Friday, October 27th. BidaskClub upgraded Select Income REIT from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, B. Riley restated a “buy” rating on shares of Select Income REIT in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $22.83.

Shares of Select Income REIT (NASDAQ SIR) opened at $25.09 on Wednesday. The company has a market capitalization of $2,264.03, a P/E ratio of 9.44 and a beta of 0.77. Select Income REIT has a 12 month low of $22.51 and a 12 month high of $26.79. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.21.

Select Income REIT (NASDAQ:SIR) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. research analysts expect that Select Income REIT will post 2.7 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. lifted its holdings in Select Income REIT by 3,984.2% in the 2nd quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 4,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Select Income REIT by 15.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 575 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Select Income REIT in the 2nd quarter worth approximately $123,000. Daiwa Securities Group Inc. lifted its holdings in shares of Select Income REIT by 13.7% during 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, Schroder Investment Management Group acquired a new position in shares of Select Income REIT during the third quarter worth approximately $185,000. Hedge funds and other institutional investors own 48.07% of the company’s stock.

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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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