Select Income REIT (SIR) Position Lowered by Credit Suisse AG
Credit Suisse AG reduced its stake in shares of Select Income REIT (NASDAQ:SIR) by 25.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,855 shares of the real estate investment trust’s stock after selling 62,370 shares during the period. Credit Suisse AG owned 0.20% of Select Income REIT worth $4,690,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Select Income REIT by 5,038.0% in the first quarter. BlackRock Inc. now owns 5,406,092 shares of the real estate investment trust’s stock valued at $139,422,000 after buying an additional 5,300,875 shares during the last quarter. Norges Bank purchased a new position in Select Income REIT during the fourth quarter valued at approximately $19,311,000. Vanguard Group Inc. boosted its position in Select Income REIT by 3.2% in the first quarter. Vanguard Group Inc. now owns 11,650,458 shares of the real estate investment trust’s stock valued at $300,466,000 after buying an additional 364,408 shares in the last quarter. First Trust Advisors LP boosted its position in Select Income REIT by 189.4% in the first quarter. First Trust Advisors LP now owns 342,932 shares of the real estate investment trust’s stock valued at $8,844,000 after buying an additional 224,435 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Select Income REIT by 48.8% in the first quarter. Ameriprise Financial Inc. now owns 545,630 shares of the real estate investment trust’s stock valued at $14,045,000 after buying an additional 178,979 shares in the last quarter. Institutional investors own 48.66% of the company’s stock.
Select Income REIT (NASDAQ SIR) traded down 1.07% during midday trading on Friday, hitting $23.02. 259,726 shares of the company were exchanged. Select Income REIT has a 1-year low of $22.51 and a 1-year high of $27.88.
Select Income REIT (NASDAQ:SIR) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by $0.04. Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. The firm had revenue of $115.87 million for the quarter, compared to analysts’ expectations of $117.21 million. During the same period last year, the firm earned $0.72 earnings per share. Analysts predict that Select Income REIT will post $1.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, July 24th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date of this dividend was Thursday, July 20th. Select Income REIT’s dividend payout ratio is presently 210.31%.
Several equities analysts have commented on SIR shares. Zacks Investment Research cut shares of Select Income REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. BidaskClub raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th.
Select Income REIT Company Profile
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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