Zacks Investment Research upgraded shares of Select Income REIT (NASDAQ:SIR) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Select Income REIT is a real estate company formed to primarily own and invest in net leased, single tenant properties. It has properties in Oahu, Hawaii and the mainland United States. Select Income REIT is headquartered in Newton, MA. “

Select Income REIT (NASDAQ:SIR) opened at 25.59 on Wednesday. The company has a market cap of $2.29 billion, a P/E ratio of 19.68 and a beta of 0.75. Select Income REIT has a 52-week low of $21.86 and a 52-week high of $27.97. The company has a 50-day moving average of $25.48 and a 200-day moving average of $25.47.

Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings data on Thursday, February 16th. The real estate investment trust reported $0.71 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The firm 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%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 EPS. On average, equities research analysts expect that Select Income REIT will post $1.39 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Monday, January 23rd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 7.97%. The ex-dividend date was Thursday, January 19th. Select Income REIT’s dividend payout ratio is presently 177.39%.

A number of hedge funds have recently bought and sold shares of SIR. Zebra Capital Management LLC bought a new stake in Select Income REIT during the fourth quarter valued at approximately $275,000. Dynamic Technology Lab Private Ltd bought a new stake in Select Income REIT during the fourth quarter valued at approximately $297,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Select Income REIT during the fourth quarter valued at approximately $325,000. Bridgeworth LLC bought a new stake in Select Income REIT during the fourth quarter valued at approximately $394,000. Finally, National Planning Corp increased its stake in 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 valued at $408,000 after buying an additional 745 shares in the last quarter. 46.52% of the stock is owned by hedge funds and other institutional investors.

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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