Select Income REIT (SIR) Releases Earnings Results, Hits Expectations
Select Income REIT (NASDAQ:SIR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.71 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.71. The company earned $114.80 million during the quarter, compared to the consensus estimate of $116.49 million. Select Income REIT had a return on equity of 4.91% and a net margin of 22.29%. Select Income REIT’s revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share.
Shares of Select Income REIT (NASDAQ:SIR) opened at 25.74 on Friday. The firm has a 50-day moving average price of $25.49 and a 200-day moving average price of $25.68. Select Income REIT has a 52-week low of $19.48 and a 52-week high of $27.97. The stock has a market capitalization of $2.30 billion, a P/E ratio of 22.32 and a beta of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 21st. Shareholders of record on Monday, January 23rd will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date is Thursday, January 19th. Select Income REIT’s dividend payout ratio is currently 177.39%.
Several hedge funds have recently modified their holdings of the company. National Planning Corp boosted its stake in shares of Select Income REIT by 4.8% in the fourth quarter. National Planning Corp now owns 16,328 shares of the real estate investment trust’s stock worth $408,000 after buying an additional 745 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Select Income REIT by 6.5% in the fourth quarter. Private Advisor Group LLC now owns 39,511 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 2,412 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of Select Income REIT during the fourth quarter worth approximately $451,000. Independent Order of Foresters boosted its stake in shares of Select Income REIT by 3.6% in the fourth quarter. Independent Order of Foresters now owns 97,826 shares of the real estate investment trust’s stock worth $2,465,000 after buying an additional 3,400 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Select Income REIT during the fourth quarter worth approximately $708,000. 46.52% of the stock is currently owned by hedge funds and other institutional investors.
SIR has been the subject of a number of recent research reports. FBR & Co reissued an “outperform” rating and issued a $34.00 target price (down from $35.00) on shares of Select Income REIT in a research report on Friday, October 28th. Zacks Investment Research raised Select Income REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, December 7th.
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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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