Select Income REIT (NASDAQ:SIR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

A number of other analysts have also weighed in on SIR. BidaskClub lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. B. Riley reiterated a “buy” rating on shares of Select Income REIT in a research note on Wednesday, November 1st. FBR & Co reiterated a “buy” rating and issued a $34.00 price objective on shares of Select Income REIT in a research note on Friday, October 27th. Finally, Deutsche Bank increased their price objective on shares of Select Income REIT from $5.00 to $5.50 and gave the stock a “hold” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.50.

Shares of Select Income REIT (NASDAQ SIR) opened at $23.45 on Friday. Select Income REIT has a 52-week low of $22.51 and a 52-week high of $26.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $2,100.00, a P/E ratio of 23.45 and a beta of 0.79.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.01). Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The company had revenue of $118.01 million for the quarter, compared to analyst estimates of $116.73 million. During the same quarter in the previous year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities analysts forecast that Select Income REIT will post 2.68 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. lifted its holdings in Select Income REIT by 3,984.2% during the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 4,024 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Select Income REIT by 15.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 575 shares in the last quarter. Schroder Investment Management Group purchased a new position in Select Income REIT during the third quarter valued at $185,000. Great West Life Assurance Co. Can lifted its holdings in Select Income REIT by 68.4% during the third quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 3,697 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in Select Income REIT by 2.0% during the second quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 191 shares in the last quarter. 48.07% 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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