Select Income REIT (SIR) Given $27.00 Average Target Price by Brokerages
Shares of Select Income REIT (NASDAQ:SIR) have been assigned an average broker rating score of 2.75 (Hold) from the four analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating, one has issued a sell rating and two have given a strong buy rating to the company.
Brokers have set a twelve-month consensus target price of $27.00 for the company and are predicting that the company will post $0.70 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Select Income REIT an industry rank of 180 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on SIR shares. Zacks Investment Research raised shares of Select Income REIT from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. BidaskClub raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a report on Thursday, June 15th.
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Select Income REIT (NASDAQ:SIR) traded up 0.30% during midday trading on Friday, hitting $23.34. 193,400 shares of the stock traded hands. Select Income REIT has a 1-year low of $23.14 and a 1-year high of $27.88. The company has a market cap of $2.09 billion, a P/E ratio of 24.31 and a beta of 0.73.
Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by $0.04. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. The company had revenue of $115.87 million during the quarter, compared to the consensus estimate of $117.21 million. During the same period last year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Select Income REIT will post $1.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, July 24th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date is Thursday, July 20th. Select Income REIT’s payout ratio is 210.31%.
Institutional investors have recently added to or reduced their stakes in the company. Pensionfund Sabic increased its position in Select Income REIT by 4.3% in the first quarter. Pensionfund Sabic now owns 48,900 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 2,000 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Select Income REIT by 37.8% in the first quarter. Daiwa Securities Group Inc. now owns 5,100 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 1,400 shares during the last quarter. Bridgeworth LLC increased its position in Select Income REIT by 6.3% in the first quarter. Bridgeworth LLC now owns 16,240 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 969 shares during the last quarter. Swiss National Bank increased its position in Select Income REIT by 2.6% in the first quarter. Swiss National Bank now owns 110,400 shares of the real estate investment trust’s stock worth $2,847,000 after buying an additional 2,800 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Select Income REIT by 40.7% in the first quarter. Asset Management One Co. Ltd. now owns 199,934 shares of the real estate investment trust’s stock worth $5,114,000 after buying an additional 57,802 shares during the last quarter. 48.93% 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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