Select Income REIT (SIR) PT Raised to $5.50

Select Income REIT (NASDAQ:SIR) had its price target raised by Deutsche Bank AG from $5.00 to $5.50 in a report released on Thursday. Deutsche Bank AG currently has a hold rating on the real estate investment trust’s stock.

SIR has been the topic of several other research reports. Zacks Investment Research raised shares of Select Income REIT from a sell rating to a hold rating in a report on Friday, September 22nd. BidaskClub raised shares of Select Income REIT from a hold rating to a buy rating in a report on Friday, October 13th.

Shares of Select Income REIT (SIR) traded down 0.520% on Thursday, reaching $23.925. 162,683 shares of the company’s stock traded hands. The company’s 50-day moving average is $23.72 and its 200-day moving average is $24.02. The firm has a market capitalization of $2.14 billion, a P/E ratio of 24.922 and a beta of 0.74. Select Income REIT has a 52 week low of $22.51 and a 52 week high of $26.79.

Select Income REIT (NASDAQ:SIR) last announced its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The business had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.34%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Equities research analysts anticipate that Select Income REIT will post $0.99 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, October 23rd will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 8.48%. The ex-dividend date is Friday, October 20th. Select Income REIT’s payout ratio is 204.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Suntrust Banks Inc. grew its holdings in shares of Select Income REIT by 2.0% in the 2nd quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 191 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Select Income REIT by 3.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 16,078 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 570 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Select Income REIT by 15.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 575 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Select Income REIT by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,107 shares of the real estate investment trust’s stock worth $1,204,000 after purchasing an additional 588 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Select Income REIT by 13.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 700 shares during the last quarter. 48.28% of the stock is currently owned by institutional investors and hedge funds.

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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