Massachusetts Financial Services Co. MA raised its stake in Select Income REIT (NASDAQ:SIR) by 33.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 542,441 shares of the real estate investment trust’s stock after buying an additional 136,118 shares during the period. Massachusetts Financial Services Co. MA owned 0.61% of Select Income REIT worth $13,990,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Select Income REIT by 7.6% in the fourth quarter. State Street Corp now owns 1,395,028 shares of the real estate investment trust’s stock valued at $35,155,000 after buying an additional 98,178 shares in the last quarter. Numeric Investors LLC boosted its stake in Select Income REIT by 189.7% in the fourth quarter. Numeric Investors LLC now owns 1,137,247 shares of the real estate investment trust’s stock valued at $28,659,000 after buying an additional 744,658 shares in the last quarter. American Century Companies Inc. boosted its stake in Select Income REIT by 10.2% in the first quarter. American Century Companies Inc. now owns 893,291 shares of the real estate investment trust’s stock valued at $23,038,000 after buying an additional 82,689 shares in the last quarter. Norges Bank acquired a new stake in Select Income REIT during the fourth quarter valued at approximately $19,311,000. Finally, Bank of New York Mellon Corp boosted its stake in Select Income REIT by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 734,875 shares of the real estate investment trust’s stock valued at $18,953,000 after buying an additional 29,183 shares in the last quarter. 49.03% of the stock is owned by institutional investors and hedge funds.
Shares of Select Income REIT (NASDAQ SIR) traded down 0.84% on Tuesday, reaching $24.69. The company’s stock had a trading volume of 64,886 shares. Select Income REIT has a 12-month low of $23.25 and a 12-month high of $27.97. The company’s 50 day moving average price is $24.32 and its 200 day moving average price is $25.17. The company has a market cap of $2.21 billion, a P/E ratio of 24.45 and a beta of 0.77.
Select Income REIT (NASDAQ:SIR) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.14. Select Income REIT had a return on equity of 4.34% and a net margin of 19.58%. The firm had revenue of $116.29 million for the quarter, compared to analysts’ expectations of $116.50 million. During the same quarter last year, the company posted $0.74 EPS. The firm’s revenue was down .8% on a year-over-year basis. Analysts forecast that Select Income REIT will post $1.23 EPS for the current fiscal year.
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SIR has been the subject of several recent analyst reports. BidaskClub raised Select Income REIT from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a report on Thursday, April 20th.
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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