Select Income REIT (SIR) Shares Sold by Martingale Asset Management L P
Martingale Asset Management L P reduced its position in shares of Select Income REIT (NASDAQ:SIR) by 64.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,700 shares of the real estate investment trust’s stock after selling 26,809 shares during the period. Martingale Asset Management L P’s holdings in Select Income REIT were worth $380,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Select Income REIT during the fourth quarter worth about $19,311,000. Numeric Investors LLC boosted its stake in shares of Select Income REIT by 189.7% in the fourth quarter. Numeric Investors LLC now owns 1,137,247 shares of the real estate investment trust’s stock worth $28,659,000 after buying an additional 744,658 shares during the period. First Trust Advisors LP boosted its stake in shares of Select Income REIT by 189.4% in the first quarter. First Trust Advisors LP now owns 342,932 shares of the real estate investment trust’s stock worth $8,844,000 after buying an additional 224,435 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Select Income REIT by 48.8% in the first quarter. Ameriprise Financial Inc. now owns 545,630 shares of the real estate investment trust’s stock worth $14,045,000 after buying an additional 178,979 shares during the period. Finally, State Street Corp boosted its stake in shares of Select Income REIT by 7.6% in the fourth quarter. State Street Corp now owns 1,395,028 shares of the real estate investment trust’s stock worth $35,155,000 after buying an additional 98,178 shares during the period. 46.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Select Income REIT (SIR) opened at 24.76 on Friday. The firm’s 50-day moving average price is $24.44 and its 200-day moving average price is $25.16. The firm has a market capitalization of $2.21 billion, a PE ratio of 24.51 and a beta of 0.75. Select Income REIT has a 52-week low of $23.25 and a 52-week high of $27.97.
Select Income REIT (NASDAQ:SIR) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.14. Select Income REIT had a net margin of 5.79% and a return on equity of 1.31%. The company had revenue of $116.29 million during the quarter, compared to analyst estimates of $116.50 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, equities analysts predict that Select Income REIT will post $1.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Friday, April 21st were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, April 19th. This represents a $2.04 dividend on an annualized basis and a yield of 8.24%. Select Income REIT’s payout ratio is currently 177.39%.
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Separately, Zacks Investment Research cut Select Income REIT from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th.
Select Income REIT Company Profile
Select Income REIT is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of December 31, 2016, the Company owned 121 properties (362 buildings, leasable land parcels and easements) with approximately 44.8 million rentable square feet.
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