Axa raised its holdings in Select Income REIT (NASDAQ:SIR) by 45.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 317,600 shares of the real estate investment trust’s stock after buying an additional 99,100 shares during the period. Axa owned 0.35% of Select Income REIT worth $7,981,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Schroder Investment Management Group acquired a new position in shares of Select Income REIT during the 3rd quarter worth about $185,000. Great West Life Assurance Co. Can increased its stake in shares of 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 worth $212,000 after purchasing an additional 3,697 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Select Income REIT during the 4th quarter worth about $214,000. Lourd Capital LLC acquired a new position in shares of Select Income REIT during the 4th quarter worth about $218,000. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Select Income REIT during the 4th quarter worth about $251,000. Hedge funds and other institutional investors own 49.83% of the company’s stock.
Several research firms have recently weighed in on SIR. ValuEngine lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Zacks Investment Research upgraded shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, December 6th. Morgan Stanley reduced 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 report on Monday, February 5th. BidaskClub downgraded shares of Select Income REIT from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 31st. Finally, B. Riley reduced their target price on shares of Select Income REIT from $34.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.92.
Select Income REIT (NASDAQ:SIR) last announced its earnings results on Friday, February 16th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.30). The company had revenue of $117.90 million for the quarter, compared to the consensus estimate of $117.78 million. Select Income REIT had a return on equity of 3.31% and a net margin of 14.29%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. analysts forecast that Select Income REIT will post 2.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, January 29th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 10.71%. The ex-dividend date was Friday, January 26th. Select Income REIT’s payout ratio is 272.00%.
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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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