Zacks Investment Research cut shares of Select Income REIT (NASDAQ:SIR) from a hold rating to a sell rating in a research report sent 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. “

Shares of Select Income REIT (NASDAQ:SIR) opened at 24.90 on Wednesday. The company’s 50-day moving average is $24.32 and its 200 day moving average is $25.17. Select Income REIT has a 12 month low of $23.25 and a 12 month high of $27.97. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 24.65 and a beta of 0.77.

Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.14. Select Income REIT had a return on equity of 4.34% and a net margin of 19.58%. The business had revenue of $116.29 million for the quarter, compared to analysts’ expectations of $116.50 million. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Select Income REIT will post $1.23 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Select Income REIT by 5,038.0% in the first quarter. BlackRock Inc. now owns 5,406,092 shares of the real estate investment trust’s stock worth $139,422,000 after buying an additional 5,300,875 shares during the last quarter. Norges Bank purchased a new stake in shares of Select Income REIT during the fourth quarter worth approximately $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 last quarter. Ranger Global Real Estate Advisors LLC purchased a new stake in shares of Select Income REIT during the first quarter worth approximately $9,582,000. Finally, Vanguard Group Inc. boosted its stake in shares of Select Income REIT by 3.2% in the first quarter. Vanguard Group Inc. now owns 11,650,458 shares of the real estate investment trust’s stock worth $300,466,000 after buying an additional 364,408 shares during the last quarter. 49.03% of the stock is owned by institutional investors.

About Select Income REIT

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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