Select Income REIT (NASDAQ:SIR) – B. Riley raised their Q4 2017 earnings estimates for shares of Select Income REIT in a report issued on Thursday. B. Riley analyst B. Maher now anticipates that the real estate investment trust will earn $0.74 per share for the quarter, up from their prior forecast of $0.70. B. Riley has a “Buy” rating and a $31.00 price objective on the stock.
Several other equities research analysts also recently weighed in on the stock. 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, February 6th. Morgan Stanley dropped their target price on shares of Select Income REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. 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, 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Select Income REIT has a consensus rating of “Hold” and a consensus target price of $23.92.
Several hedge funds and other institutional investors have recently bought and sold shares of SIR. Schroder Investment Management Group acquired a new position in shares of Select Income REIT in the 3rd quarter valued at about $185,000. Great West Life Assurance Co. Can boosted its stake in Select Income REIT by 68.4% during the 3rd 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 during the period. Lourd Capital LLC acquired a new position in Select Income REIT during the 4th quarter valued at about $218,000. Suntrust Banks Inc. boosted its stake in Select Income REIT by 2.0% during the 2nd 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 during the period. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new position in Select Income REIT during the 4th quarter valued at about $251,000. 47.88% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, January 29th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 10.00%. The ex-dividend date is Friday, January 26th. Select Income REIT’s dividend payout ratio (DPR) is presently 204.00%.
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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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