ValuEngine upgraded shares of Select Income REIT (NASDAQ:SIR) from a sell rating to a hold rating in a research note issued to investors on Monday.
Several other equities research analysts have also recently issued reports on SIR. BidaskClub raised shares of Select Income REIT from a hold rating to a buy rating in a research note on Tuesday, June 26th. Zacks Investment Research cut shares of Select Income REIT from a hold rating to a sell rating in a research note on Wednesday, July 18th. JMP Securities cut shares of Select Income REIT to a hold rating in a research note on Monday. Finally, TheStreet cut shares of Select Income REIT from a b- rating to a c rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $22.92.
Shares of SIR opened at $21.75 on Monday. Select Income REIT has a 52-week low of $17.90 and a 52-week high of $26.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 3.31 and a beta of 0.77.
Select Income REIT (NASDAQ:SIR) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.49). Select Income REIT had a return on equity of 3.55% and a net margin of 16.59%. The business had revenue of $116.00 million for the quarter, compared to analyst estimates of $118.56 million. During the same period last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. analysts forecast that Select Income REIT will post 2.21 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Select Income REIT during the 2nd quarter valued at about $126,000. Bridgeworth LLC acquired a new position in shares of Select Income REIT during the 2nd quarter valued at about $144,000. Eii Capital Management Inc. boosted its position in shares of Select Income REIT by 118.8% during the 2nd quarter. Eii Capital Management Inc. now owns 9,221 shares of the real estate investment trust’s stock valued at $207,000 after acquiring an additional 5,006 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Select Income REIT during the 2nd quarter valued at about $218,000. Finally, Paloma Partners Management Co acquired a new position in shares of Select Income REIT during the 2nd quarter valued at about $219,000. 49.02% of the stock is currently owned by hedge funds and other institutional investors.
About Select Income REIT
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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