Royal Bank of Canada Reiterates $25.00 Price Target for Select Income REIT (SIR)

Select Income REIT (NASDAQ:SIR) has been given a $25.00 price objective by equities research analysts at Royal Bank of Canada in a research report issued on Tuesday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 19.73% from the company’s current price.

SIR has been the subject of several other research reports. BidaskClub raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Deutsche Bank boosted their price target on shares of Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $22.50.

Shares of Select Income REIT (SIR) traded up $0.13 during trading on Tuesday, hitting $20.88. 40,890 shares of the company’s stock traded hands, compared to its average volume of 337,906. The company has a market cap of $1,942.77, a PE ratio of 20.81 and a beta of 0.66. Select Income REIT has a 52 week low of $20.22 and a 52 week high of $26.79. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.21.

Hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new position in shares of Select Income REIT in the 3rd quarter valued at $185,000. Great West Life Assurance Co. Can boosted its stake in Select Income REIT by 68.4% in 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 period. Lourd Capital LLC acquired a new position in Select Income REIT in the 4th quarter worth $218,000. Suntrust Banks Inc. boosted its stake in Select Income REIT by 2.0% in the 2nd quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock worth $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 in the 4th quarter worth $251,000. 47.88% of the stock is owned by institutional investors.

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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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