Select Income REIT (SIR) Raised to Buy at BidaskClub
BidaskClub upgraded shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a buy rating in a research report report published on Tuesday.
Several other equities analysts also recently commented on the stock. FBR & Co restated a buy rating and issued a $34.00 price target on shares of Select Income REIT in a research note on Friday, October 27th. Deutsche Bank AG boosted their price target on shares of Select Income REIT from $5.00 to $5.50 and gave the stock a hold rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Select Income REIT from a sell rating to a hold rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Select Income REIT presently has a consensus rating of Buy and a consensus target price of $22.17.
Select Income REIT (SIR) traded down $0.05 during trading on Tuesday, reaching $25.34. 192,593 shares of the company traded hands, compared to its average volume of 276,080. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $26.79. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $2,280.00, a P/E ratio of 9.48 and a beta of 0.79.
Select Income REIT (NASDAQ:SIR) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The company had revenue of $118.01 million during the quarter, compared to analyst estimates of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. research analysts predict that Select Income REIT will post 2.7 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, October 23rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.05%. Select Income REIT’s payout ratio is currently 204.00%.
Several hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC grew its stake in shares of Select Income REIT by 21.8% during the third quarter. Citadel Advisors LLC now owns 196,036 shares of the real estate investment trust’s stock worth $4,591,000 after purchasing an additional 35,060 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Select Income REIT during the third quarter worth $185,000. Legal & General Group Plc grew its stake in shares of Select Income REIT by 5.7% during the third quarter. Legal & General Group Plc now owns 181,891 shares of the real estate investment trust’s stock worth $4,260,000 after purchasing an additional 9,812 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Select Income REIT by 68.4% during the third quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 3,697 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of Select Income REIT by 8.1% during the third quarter. American International Group Inc. now owns 42,477 shares of the real estate investment trust’s stock worth $995,000 after purchasing an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 48.49% of the company’s stock.
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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