Select Income REIT (SIR) Rating Increased to Hold at Zacks Investment Research
Select Income REIT (NASDAQ:SIR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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 upgraded Select Income REIT from a “hold” rating to a “buy” rating in a report on Thursday, June 15th.
Select Income REIT (NASDAQ:SIR) opened at 23.31 on Friday. Select Income REIT has a 52-week low of $22.51 and a 52-week high of $27.87.
Select Income REIT (NASDAQ:SIR) last issued its quarterly 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). 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 for the quarter, compared to analysts’ expectations of $117.21 million. During the same quarter in the prior year, the firm posted $0.72 EPS. On average, equities research analysts expect that Select Income REIT will post $0.99 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in Select Income REIT by 3,984.2% during the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 4,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Select Income REIT by 15.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 575 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Select Income REIT during the second quarter valued at $123,000. Ameritas Investment Partners Inc. acquired a new stake in Select Income REIT during the first quarter valued at $141,000. Finally, New York State Teachers Retirement System acquired a new stake in Select Income REIT during the first quarter valued at $142,000. 48.23% of the stock is owned by hedge funds and other institutional investors.
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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