Select Income REIT (SIR) Reaches New 12-Month High at $27.97
Select Income REIT (NYSE:SIR) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $27.97 and last traded at $27.91, with a volume of 389,443 shares. The stock had previously closed at $26.96.
Separately, Zacks Investment Research upgraded shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, July 19th.
The firm’s 50 day moving average is $26.25 and its 200 day moving average is $23.00.
Select Income REIT (NYSE:SIR) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.36. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The firm earned $114.90 million during the quarter, compared to analyst estimates of $114.80 million. Select Income REIT’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Select Income REIT will post $1.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Friday, July 22nd will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend is Wednesday, July 20th. This is an increase from Select Income REIT’s previous quarterly dividend of $0.50.
A number of institutional investors recently made changes to their positions in SIR. Boston Partners bought a new position in shares of Select Income REIT during the fourth quarter worth about $2,120,000. Morgan Stanley raised its position in shares of 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 worth $29,655,000 after buying an additional 5,013 shares during the period. Russell Frank Co raised its position in shares of 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 period. Rhumbline Advisers raised its position in shares of 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 period. Finally, Employees Retirement System of Texas bought a new position in shares of Select Income REIT during the fourth quarter worth about $2,029,000.
Select Income REIT is a real estate investment trust. The Company primarily owns single tenant, net leased properties. The Company’s segment is the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. The Company owns approximately 120 properties with over 44.7 million rentable square feet.
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