Select Income REIT (NASDAQ:SIR) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
A number of other brokerages have also recently issued reports on SIR. ValuEngine cut shares of Select Income REIT from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Morgan Stanley upgraded shares of Select Income REIT from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $19.00 to $24.00 in a report on Wednesday, September 19th. JMP Securities cut shares of Select Income REIT to a “hold” rating in a report on Monday, September 17th. Zacks Investment Research upgraded shares of Select Income REIT from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, TheStreet cut shares of Select Income REIT from a “b-” rating to a “c” rating in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Select Income REIT has a consensus rating of “Hold” and a consensus price target of $25.75.
NASDAQ:SIR traded down $0.29 during trading hours on Tuesday, reaching $19.48. The company had a trading volume of 905,900 shares, compared to its average volume of 645,658. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 3.61 and a beta of 0.80. Select Income REIT has a twelve month low of $17.90 and a twelve month high of $26.26.
Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. The business had revenue of $121.88 million during the quarter, compared to analysts’ expectations of $116.17 million. Select Income REIT had a net margin of 16.05% and a return on equity of 3.33%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. Equities analysts predict that Select Income REIT will post 2.01 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in Select Income REIT by 4.5% during the first quarter. Allianz Asset Management GmbH now owns 62,429 shares of the real estate investment trust’s stock worth $1,217,000 after purchasing an additional 2,716 shares during the last quarter. Bank of Montreal Can purchased a new position in Select Income REIT during the second quarter worth about $218,000. Garner Asset Management Corp boosted its holdings in Select Income REIT by 3.5% during the second quarter. Garner Asset Management Corp now owns 253,622 shares of the real estate investment trust’s stock worth $5,699,000 after purchasing an additional 8,514 shares during the last quarter. Foundry Partners LLC boosted its holdings in Select Income REIT by 9.4% during the second quarter. Foundry Partners LLC now owns 316,591 shares of the real estate investment trust’s stock worth $7,114,000 after purchasing an additional 27,176 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in Select Income REIT during the second quarter worth about $2,160,000. Hedge funds and other institutional investors own 49.08% of the company’s stock.
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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