Bank of New York Mellon Corp raised its position in shares of Select Income REIT (NASDAQ:SIR) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 745,738 shares of the real estate investment trust’s stock after acquiring an additional 10,863 shares during the quarter. Bank of New York Mellon Corp’s holdings in Select Income REIT were worth $17,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in shares of Select Income REIT by 3.7% during the second quarter. Advisors Asset Management Inc. now owns 16,078 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 570 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Select Income REIT by 13.7% during the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 700 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Select Income REIT by 1.0% during the first quarter. Public Employees Retirement System of Ohio now owns 72,930 shares of the real estate investment trust’s stock valued at $1,881,000 after purchasing an additional 709 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Select Income REIT by 2.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 41,440 shares of the real estate investment trust’s stock valued at $1,069,000 after purchasing an additional 800 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Select Income REIT by 3.7% during the first quarter. BNP Paribas Arbitrage SA now owns 26,393 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 934 shares during the period. 48.23% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Select Income REIT from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.

Shares of Select Income REIT (SIR) opened at 23.34 on Tuesday. The company has a 50 day moving average of $23.13 and a 200-day moving average of $24.34. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 24.31 and a beta of 0.73. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $27.87.

Select Income REIT (NASDAQ:SIR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The company had revenue of $115.87 million for the quarter, compared to the consensus estimate of $117.21 million. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. During the same period in the previous year, the firm posted $0.72 EPS. Analysts predict that Select Income REIT will post $0.99 EPS for the current year.

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Select Income REIT 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.

Institutional Ownership by Quarter for Select Income REIT (NASDAQ:SIR)

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