Hillcrest Asset Management LLC Has $7.27 Million Position in Select Income REIT (SIR)
Hillcrest Asset Management LLC reduced its holdings in Select Income REIT (NASDAQ:SIR) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,378 shares of the real estate investment trust’s stock after selling 7,431 shares during the period. Hillcrest Asset Management LLC owned approximately 0.35% of Select Income REIT worth $7,269,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. lifted its holdings in Select Income REIT by 3,984.2% in the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 4,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Select Income REIT by 15.3% in 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 buying an additional 575 shares during the period. Nisa Investment Advisors LLC acquired a new position in Select Income REIT in the second quarter valued at approximately $123,000. Daiwa Securities Group Inc. lifted its holdings in Select Income REIT by 13.7% in 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 buying an additional 700 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in Select Income REIT in the first quarter valued at approximately $142,000. Institutional investors and hedge funds own 48.13% of the company’s stock.
Shares of Select Income REIT (SIR) traded up $0.05 during trading hours on Tuesday, reaching $25.39. 188,100 shares of the company’s stock traded hands, compared to its average volume of 275,681. Select Income REIT has a 1 year low of $22.51 and a 1 year 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 company has a market capitalization of $2,267.61, a P/E ratio of 9.46 and a beta of 0.76.
Select Income REIT (NASDAQ:SIR) last issued its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. During the same period in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. equities analysts forecast that Select Income REIT will post 2.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 8.03%. The ex-dividend date of this dividend is Friday, October 20th. Select Income REIT’s payout ratio is presently 204.00%.
Several brokerages have commented on SIR. BidaskClub downgraded shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Deutsche Bank AG upped their target price on shares of Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Select Income REIT from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. FBR & Co reaffirmed a “buy” rating and issued a $34.00 target price on shares of Select Income REIT in a research note on Friday, October 27th. Finally, B. Riley reaffirmed a “buy” rating on shares of Select Income REIT in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.17.
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.
Want to see what other hedge funds are holding SIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Income REIT (NASDAQ:SIR).
Receive News & Stock Ratings for Select Income REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Income REIT and related stocks with our FREE daily email newsletter.