Select Income REIT (SIR) Reaches New 1-Year High at $27.65
Select Income REIT (NYSE:SIR)’s share price hit a new 52-week high on Monday . The stock traded as high as $27.65 and last traded at $27.60, with a volume of 183,746 shares changing hands. The stock had previously closed at $27.39.
Separately, Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. 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. Select Income REIT presently has an average rating of “Hold” and a consensus target price of $24.33.
The company’s 50 day moving average is $25.62 and its 200-day moving average is $22.53.
Select Income REIT (NYSE:SIR) last announced its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.38. During the same period last year, the firm earned $0.70 EPS. The firm had revenue of $117.23 million for the quarter, compared to analysts’ expectations of $114 million. Select Income REIT’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts expect that Select Income REIT will post $1.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Friday, July 22nd will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 7.39%. This is a boost from Select Income REIT’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, July 20th.
Other large investors recently bought and sold shares of the company. 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 worth $1,676,000 after buying an additional 5,270 shares during the last quarter. Employees Retirement System of Texas bought a new stake in Select Income REIT during the fourth quarter worth about $2,029,000. Boston Partners bought a new stake in Select Income REIT during the fourth quarter worth about $2,120,000. 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 worth $2,227,000 after buying an additional 96,329 shares during the last quarter. Finally, 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 worth $2,301,000 after buying an additional 1,869 shares during the last quarter.
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).
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