Select Income REIT (SIR) Sets New 52-Week High at $27.97
Select Income REIT (NYSE:SIR)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $27.97 and last traded at $27.91, with a volume of 389,443 shares trading hands. The stock had previously closed at $26.96.
Separately, Zacks Investment Research raised shares of Select Income REIT from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, July 19th.
The stock’s 50-day moving average is $26.32 and its 200 day moving average is $23.06.
Select Income REIT (NYSE:SIR) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.36. The business earned $114.90 million during the quarter, compared to analysts’ expectations of $114.80 million. During the same quarter in the previous year, the business earned $0.69 EPS. Select Income REIT’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Select Income REIT will post $1.45 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 20th. This represents a $2.04 annualized dividend and a dividend yield of 7.35%. This is a boost from Select Income REIT’s previous quarterly dividend of $0.50.
Several institutional investors have bought and sold shares of the company. California State Teachers Retirement System increased its position 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 last quarter. Morgan Stanley boosted 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 valued at $29,655,000 after buying an additional 5,013 shares in the last quarter. Rhumbline Advisers boosted 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 valued at $1,676,000 after buying an additional 5,270 shares in the last quarter. Russell Frank Co boosted 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 valued at $2,227,000 after buying an additional 96,329 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Select Income REIT during the fourth quarter valued at approximately $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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