Select Income REIT (SIR) Announces Quarterly Dividend of $0.51
Select Income REIT (NYSE:SIR) declared a quarterly dividend on Wednesday, October 12th. Stockholders of record on Friday, October 21st will be given a dividend of 0.51 per share by the real estate investment trust on Thursday, November 17th. This represents a $2.04 annualized dividend and a dividend yield of 7.97%. The ex-dividend date of this dividend is Wednesday, October 19th.
Select Income REIT (NYSE:SIR) traded up 1.87% during trading on Wednesday, hitting $25.61. The stock had a trading volume of 735,012 shares. The stock has a 50-day moving average price of $26.81 and a 200-day moving average price of $25.54. Select Income REIT has a 52 week low of $17.07 and a 52 week high of $27.97.
Select Income REIT (NYSE:SIR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.36. The firm had revenue of $114.90 million for the quarter, compared to the consensus estimate of $114.80 million. During the same quarter last year, the company earned $0.69 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts predict that Select Income REIT will post $1.41 earnings per share for the current fiscal year.
A number of research firms have issued reports on SIR. Zacks Investment Research upgraded shares of Select Income REIT from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. FBR & Co began coverage on shares of Select Income REIT in a report on Monday, August 22nd. They set an “outperform” rating and a $35.00 price target for the company. Finally, JMP Securities upgraded shares of Select Income REIT from a “market perform” rating to an “outperform” rating in a report on Monday, August 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $32.67.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIR. Thrivent Financial for Lutherans acquired a new position in shares of Select Income REIT during the second quarter worth approximately $200,000. ProShare Advisors LLC acquired a new position in shares of Select Income REIT during the second quarter worth approximately $202,000. Cubist Systematic Strategies LLC acquired a new position in shares of Select Income REIT during the second quarter worth approximately $218,000. Barclays PLC boosted its position in shares of Select Income REIT by 46.2% in the second quarter. Barclays PLC now owns 8,633 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 2,728 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Select Income REIT by 55.3% in the second quarter. Jane Street Group LLC now owns 15,818 shares of the real estate investment trust’s stock worth $411,000 after buying an additional 5,632 shares in the last quarter.
About Select Income REIT
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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