B. Riley Weighs in on Select Income REIT’s FY2017 Earnings (SIR)

Select Income REIT (NASDAQ:SIR) – B. Riley reduced their FY2017 earnings per share (EPS) estimates for Select Income REIT in a note issued to investors on Thursday. B. Riley analyst B. Maher now expects that the real estate investment trust will post earnings of $2.46 per share for the year, down from their prior forecast of $2.71. B. Riley has a “Buy” rating and a $31.00 price objective on the stock. B. Riley also issued estimates for Select Income REIT’s Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.73 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $0.72 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.73 EPS, FY2019 earnings at $2.87 EPS and FY2020 earnings at $2.97 EPS.

Several other research firms also recently weighed in on SIR. Royal Bank of Canada set a $25.00 target price on shares of Select Income REIT and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Select Income REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. BidaskClub downgraded shares of Select Income REIT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley lowered their price objective on shares of Select Income REIT from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Select Income REIT currently has a consensus rating of “Hold” and an average price target of $23.92.

Shares of Select Income REIT (NASDAQ:SIR) opened at $19.96 on Friday. 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 has a fifty-two week low of $19.96 and a fifty-two week high of $26.79. The company has a market cap of $1,850.60, a P/E ratio of 7.72 and a beta of 0.66.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, January 29th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 10.22%. The ex-dividend date is Friday, January 26th. Select Income REIT’s dividend payout ratio is 204.00%.

A number of hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. lifted its stake in shares of Select Income REIT by 2.0% in the second quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 191 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Select Income REIT by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 50,107 shares of the real estate investment trust’s stock worth $1,204,000 after buying an additional 588 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of Select Income REIT by 9.4% in the third quarter. First Allied Advisory Services Inc. now owns 23,148 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 1,992 shares during the last quarter. Strs Ohio raised its stake in Select Income REIT by 2.3% during the 4th quarter. Strs Ohio now owns 100,071 shares of the real estate investment trust’s stock valued at $2,514,000 after purchasing an additional 2,232 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Select Income REIT by 1.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 208,057 shares of the real estate investment trust’s stock valued at $4,869,000 after purchasing an additional 2,926 shares during the last quarter. 47.88% 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.

Earnings History and Estimates for Select Income REIT (NASDAQ:SIR)

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