Zacks Investment Research cut shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

According to Zacks, “Select Income REIT is a real estate company formed to primarily own and invest in net leased, single tenant properties. It has properties in Oahu, Hawaii and the mainland United States. Select Income REIT is headquartered in Newton, MA. “

Separately, BidaskClub raised Select Income REIT from a hold rating to a buy rating in a report on Thursday, June 15th.

Shares of Select Income REIT (NASDAQ SIR) traded up 0.83% during mid-day trading on Friday, hitting $22.95. 155,707 shares of the stock traded hands. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $27.88.

Select Income REIT (NASDAQ:SIR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.04. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. The business had revenue of $115.87 million during the quarter, compared to the consensus estimate of $117.21 million. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Select Income REIT will post $1.04 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, July 24th were issued a dividend of $0.51 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.04 annualized dividend and a yield of 8.89%. Select Income REIT’s dividend payout ratio is currently 210.31%.

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake 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 in the last quarter. Ranger Global Real Estate Advisors LLC purchased a new stake in shares of Select Income REIT during the first quarter valued at $9,582,000. Vanguard Group Inc. boosted its stake in shares of 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 stake in shares of 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 stake in shares of 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. 48.66% of the stock is owned by hedge funds and other institutional investors.

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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