Select Income REIT (SIR) Downgraded to “Hold” at BidaskClub

Select Income REIT (NASDAQ:SIR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

SIR has been the subject of several other reports. Zacks Investment Research cut Select Income REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Morgan Stanley reduced their target price on Select Income REIT from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, February 5th. B. Riley reiterated a “buy” rating on shares of Select Income REIT in a research note on Tuesday, February 20th. Royal Bank of Canada set a $25.00 target price on Select Income REIT and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, ValuEngine cut Select Income REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.92.

Shares of NASDAQ:SIR opened at $20.14 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.90 and a quick ratio of 1.90. Select Income REIT has a 52-week low of $20.05 and a 52-week high of $20.43. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 7.24 and a beta of 0.77.

Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Select Income REIT had a net margin of 19.76% and a return on equity of 4.41%. The company had revenue of $120.60 million during the quarter, compared to the consensus estimate of $115.93 million. During the same quarter last year, the company earned $0.59 earnings per share. Select Income REIT’s revenue for the quarter was up 3.7% on a year-over-year basis. analysts anticipate that Select Income REIT will post 2.68 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. bought a new position in Select Income REIT during the first quarter worth $175,000. BB&T Securities LLC bought a new position in Select Income REIT during the fourth quarter worth $211,000. Amalgamated Bank bought a new position in Select Income REIT during the fourth quarter worth $214,000. Lourd Capital LLC bought a new position in Select Income REIT during the fourth quarter worth $218,000. Finally, SG Americas Securities LLC lifted its stake in Select Income REIT by 61.7% during the first quarter. SG Americas Securities LLC now owns 12,207 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 4,659 shares during the last quarter. Hedge funds and other institutional investors own 49.48% of the company’s stock.

Select Income REIT Company Profile

SIR is a real estate investment trust, or REIT, which owns properties that are primarily leased to single tenants. As of December 31, 2017, we owned 366 buildings, leasable land parcels and easements with approximately 45.5 million rentable square feet located in 36 states. As of December 31, 2017, our subsidiary, Industrial Logistics Properties Trust, or ILPT, owned 266 of our buildings, leasable land parcels and easements with approximately 28.5 million rentable square feet, including 226 buildings, leasable land parcels and easements with approximately 16.8 million rentable square feet which are primarily leasable industrial and commercial lands located in Hawaii.

Analyst Recommendations for Select Income REIT (NASDAQ:SIR)

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