BidaskClub lowered shares of Select Income REIT (NASDAQ:SIR) from a sell rating to a strong sell rating in a research report released on Wednesday.
A number of other equities analysts also recently issued reports on SIR. ValuEngine downgraded Select Income REIT from a hold rating to a sell rating in a research report on Tuesday. Zacks Investment Research downgraded Select Income REIT from a hold rating to a sell rating in a research report on Wednesday, July 18th. Finally, TheStreet downgraded Select Income REIT from a b- rating to a c rating in a research report on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $22.92.
Shares of NASDAQ:SIR opened at $20.53 on Wednesday. The company has a market capitalization of $1.84 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 3.40 and a beta of 0.77. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.87. Select Income REIT has a 52 week low of $17.90 and a 52 week high of $26.26.
Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.49). The business had revenue of $116.00 million for the quarter, compared to analyst estimates of $118.56 million. Select Income REIT had a return on equity of 3.55% and a net margin of 16.59%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. sell-side analysts predict that Select Income REIT will post 2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, July 30th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 9.94%. The ex-dividend date of this dividend was Friday, July 27th. Select Income REIT’s payout ratio is 73.38%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Select Income REIT by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 731,374 shares of the real estate investment trust’s stock valued at $16,434,000 after acquiring an additional 12,829 shares during the period. Advisors Asset Management Inc. increased its position in shares of Select Income REIT by 58.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 26,663 shares of the real estate investment trust’s stock valued at $599,000 after acquiring an additional 9,863 shares during the period. Mutual Advisors LLC acquired a new position in shares of Select Income REIT in the 2nd quarter valued at $236,000. Millennium Management LLC increased its position in shares of Select Income REIT by 140.7% in the 2nd quarter. Millennium Management LLC now owns 229,027 shares of the real estate investment trust’s stock valued at $5,146,000 after acquiring an additional 133,893 shares during the period. Finally, Bridgeworth LLC acquired a new position in shares of Select Income REIT in the 2nd quarter valued at $144,000. 49.02% of the stock is currently owned by hedge funds and other institutional investors.
Select Income REIT Company Profile
SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, Industrial Logistics Properties Trust, or ILPT, properties that are primarily net leased to single tenants. As of June 30, 2018, our consolidated portfolio included 367 buildings, leasable land parcels and easements with approximately 45.7 million rentable square feet located in 36 states.
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