Select Income REIT (NYSE:SIR) shares saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. Approximately 1,151,713 shares changed hands during mid-day trading, an increase of 216% from the previous session’s volume of 365,020 shares.The stock last traded at $25.61 and had previously closed at $25.14.

The newly announced dividend which will be paid on Thursday, November 17th. Stockholders of record on Friday, October 21st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 7.97%. The ex-dividend date is Wednesday, October 19th. Select Income REIT’s payout ratio is currently 172.41%.

Several equities research analysts have recently commented on SIR shares. FBR & Co started coverage on shares of Select Income REIT in a research report on Monday, August 22nd. They set an “outperform” rating and a $35.00 price target for the company. Zacks Investment Research lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research report on Saturday, September 10th. Finally, JMP Securities raised shares of Select Income REIT from a “market perform” rating to an “outperform” rating in a research report on Monday, August 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.67.

The stock’s 50-day moving average price is $26.81 and its 200 day moving average price is $25.54.

Select Income REIT (NYSE:SIR) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.36. The company had revenue of $114.90 million for the quarter, compared to the consensus estimate of $114.80 million. During the same period in the previous year, the business earned $0.69 EPS. Select Income REIT’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts forecast that Select Income REIT will post $1.41 EPS for the current year.

Large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Select Income REIT by 8.9% in the first quarter. State Street Corp now owns 1,237,206 shares of the real estate investment trust’s stock worth $28,517,000 after buying an additional 100,794 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Select Income REIT by 15.1% in the first quarter. Goldman Sachs Group Inc. now owns 153,989 shares of the real estate investment trust’s stock valued at $3,550,000 after buying an additional 20,251 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Select Income REIT by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,105,907 shares of the real estate investment trust’s stock valued at $48,541,000 after buying an additional 44,813 shares in the last quarter. Atlanta Capital Group increased its stake in shares of Select Income REIT by 1.7% in the second quarter. Atlanta Capital Group now owns 23,195 shares of the real estate investment trust’s stock valued at $603,000 after buying an additional 397 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Select Income REIT by 9.0% in the first quarter. BlackRock Inc. now owns 65,734 shares of the real estate investment trust’s stock valued at $1,514,000 after buying an additional 5,412 shares in the last quarter.

Select Income REIT Company Profile

Select Income REIT is a real estate investment trust. The Company primarily owns single tenant, net leased properties. The Company’s segment is the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. The Company owns approximately 120 properties with over 44.7 million rentable square feet.

5 Day Chart for NYSE:SIR

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