Select Income REIT (SIR) Downgraded by BidaskClub

BidaskClub cut shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a sell rating in a report released on Tuesday morning.

Several other research analysts also recently commented on SIR. Zacks Investment Research raised shares of Select Income REIT from a sell rating to a hold rating in a research note on Friday, September 22nd. Deutsche Bank lifted their target price 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. 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $22.50.

Shares of Select Income REIT (SIR) traded up $0.24 on Tuesday, hitting $23.45. 400,100 shares of the stock were exchanged, compared to its average volume of 377,600. The company has a market cap of $2,100.00, a price-to-earnings ratio of 23.45 and a beta of 0.79. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.21. Select Income REIT has a 1 year low of $22.51 and a 1 year high of $26.79.

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 consensus estimate of $0.69 by ($0.01). Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The firm had revenue of $118.01 million during the quarter, compared to analysts’ expectations of $116.73 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. equities research analysts forecast that Select Income REIT will post 2.68 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SIR. Sei Investments Co. increased its position in Select Income REIT by 3,984.2% during the 2nd 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Select Income REIT by 15.3% during the 2nd 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 period. Schroder Investment Management Group purchased a new position in Select Income REIT during the 3rd quarter valued at $185,000. Great West Life Assurance Co. Can increased its position in Select Income REIT by 68.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 3,697 shares during the period. Finally, Suntrust Banks Inc. increased its position in Select Income REIT by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 9,964 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 191 shares during the period. 48.07% of the stock is currently owned by 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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