Select Income REIT (NYSE:SIR) shares reached a new 52-week high during trading on Monday . The company traded as high as $27.10 and last traded at $27.05, with a volume of 246,951 shares. The stock had previously closed at $26.65.

Separately, Zacks Investment Research cut Select Income REIT from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.33.

The stock has a market cap of $2.42 billion and a price-to-earnings ratio of 23.33. The stock has a 50 day moving average of $25.35 and a 200 day moving average of $22.41.

Select Income REIT (NYSE:SIR) last announced its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.38. The firm earned $117.23 million during the quarter, compared to analysts’ expectations of $114 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts predict that Select Income REIT will post $1.45 earnings per share for the current fiscal year.

A number of hedge funds recently bought and sold shares of the company. Russell Frank Co raised its stake in Select Income REIT by 680.6% in the fourth quarter. Russell Frank Co now owns 110,483 shares of the real estate investment trust’s stock valued at $2,227,000 after buying an additional 96,329 shares during the period. California State Teachers Retirement System raised its stake in Select Income REIT by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 116,106 shares of the real estate investment trust’s stock valued at $2,301,000 after buying an additional 1,869 shares during the period. Rhumbline Advisers raised its stake in Select Income REIT by 6.6% in the fourth quarter. Rhumbline Advisers now owns 84,539 shares of the real estate investment trust’s stock valued at $1,676,000 after buying an additional 5,270 shares during the period. Boston Partners bought a new stake in Select Income REIT during the fourth quarter valued at approximately $2,120,000. Finally, Morgan Stanley raised its stake in Select Income REIT by 0.3% in the fourth quarter. Morgan Stanley now owns 1,496,195 shares of the real estate investment trust’s stock valued at $29,655,000 after buying an additional 5,013 shares during the period.

Select Income REIT (SIR) is a real estate investment trust (REIT). The Company owns and invests in single tenant and net leased properties. The Company owns approximately 51 properties (281 buildings, leasable land parcels and easements), located in 22 states, that contain approximately 27.7 million rentable square feet and are approximately 96.4% leased (based on rentable square feet).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.