Select Income REIT (NASDAQ:SIR) issued its quarterly earnings data on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.30), Bloomberg Earnings reports. Select Income REIT had a net margin of 14.29% and a return on equity of 3.31%. The company had revenue of $117.90 million for the quarter, compared to the consensus estimate of $117.78 million. During the same period in the previous year, the business posted $0.71 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year.
Select Income REIT (NASDAQ:SIR) opened at $19.02 on Tuesday. Select Income REIT has a 12-month low of $17.90 and a 12-month high of $26.79. The company has a debt-to-equity ratio of 1.55, a quick ratio of 7.76 and a current ratio of 7.76. The firm has a market capitalization of $1,696.67, a P/E ratio of 25.36 and a beta of 0.82.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, January 29th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date of this dividend was Friday, January 26th. Select Income REIT’s dividend payout ratio (DPR) is currently 272.00%.
SIR has been the subject of several recent research reports. BidaskClub cut Select Income REIT from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Select Income REIT from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Tuesday, January 23rd. Royal Bank of Canada set a $25.00 price objective on Select Income REIT and gave the stock a “buy” rating in a report on Tuesday, February 6th. B. Riley restated a “buy” rating on shares of Select Income REIT in a research report on Tuesday, February 20th. Finally, Morgan Stanley decreased their target price on Select Income REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $23.92.
A number of large investors have recently added to or reduced their stakes in SIR. New York State Common Retirement Fund boosted its position in Select Income REIT by 4.2% during the 2nd quarter. New York State Common Retirement Fund now owns 74,064 shares of the real estate investment trust’s stock worth $1,780,000 after acquiring an additional 2,999 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Select Income REIT by 34.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 260,563 shares of the real estate investment trust’s stock worth $6,261,000 after purchasing an additional 66,659 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Select Income REIT by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 997,435 shares of the real estate investment trust’s stock worth $23,968,000 after purchasing an additional 23,041 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Select Income REIT during the 2nd quarter worth approximately $256,000. Finally, Voya Investment Management LLC raised its stake in shares of Select Income REIT by 29.2% during the 2nd quarter. Voya Investment Management LLC now owns 27,590 shares of the real estate investment trust’s stock worth $663,000 after purchasing an additional 6,228 shares in the last quarter. 49.83% of the stock is owned by hedge funds and other institutional investors.
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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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