Zacks Investment Research Downgrades Select Income REIT (SIR) to Sell

Select Income REIT (NASDAQ:SIR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

SIR has been the subject of a number of other research reports. BidaskClub downgraded Select Income REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Morgan Stanley reduced their price objective on 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. B. Riley reiterated a “buy” rating on shares of Select Income REIT in a research report 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 report on Friday, October 27th. Finally, Royal Bank of Canada set a $25.00 price objective on Select Income REIT and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Select Income REIT currently has an average rating of “Hold” and a consensus target price of $23.92.

Shares of Select Income REIT (NASDAQ SIR) remained flat at $$20.11 during mid-day trading on Wednesday. The company had a trading volume of 389,900 shares, compared to its average volume of 352,965. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.51 and a current ratio of 1.51. Select Income REIT has a 52-week low of $19.41 and a 52-week high of $26.79. The company has a market cap of $1,799.59, a P/E ratio of 20.11 and a beta of 0.66.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Select Income REIT by 2.3% during the 4th quarter. BlackRock Inc. now owns 5,690,703 shares of the real estate investment trust’s stock worth $143,008,000 after buying an additional 129,475 shares during the period. State Street Corp lifted its position in shares of Select Income REIT by 5.6% during the 2nd quarter. State Street Corp now owns 1,565,702 shares of the real estate investment trust’s stock worth $37,624,000 after buying an additional 83,346 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Select Income REIT by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,031,624 shares of the real estate investment trust’s stock worth $24,161,000 after buying an additional 34,189 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Select Income REIT by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 753,163 shares of the real estate investment trust’s stock worth $17,638,000 after buying an additional 7,425 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Select Income REIT by 9.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 733,508 shares of the real estate investment trust’s stock worth $18,434,000 after buying an additional 64,952 shares during the period. Institutional investors and hedge funds own 47.80% of the company’s stock.

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Select Income REIT Company Profile

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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