Select Income REIT (NASDAQ:SIR) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 792,618 shares, a drop of 30.7% from the October 13th total of 1,143,097 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 276,515 shares, the short-interest ratio is currently 2.9 days.

A number of institutional investors and hedge funds have recently made changes to their positions in SIR. Teachers Advisors LLC raised its holdings in Select Income REIT by 3.6% in the 1st quarter. Teachers Advisors LLC now owns 128,790 shares of the real estate investment trust’s stock worth $3,321,000 after acquiring an additional 4,532 shares during the period. Geode Capital Management LLC raised its holdings in Select Income REIT by 6.0% in the 1st quarter. Geode Capital Management LLC now owns 584,270 shares of the real estate investment trust’s stock worth $15,068,000 after acquiring an additional 33,042 shares during the period. Dimensional Fund Advisors LP raised its holdings in Select Income REIT by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 974,394 shares of the real estate investment trust’s stock worth $25,129,000 after acquiring an additional 26,366 shares during the period. UBS Group AG raised its holdings in Select Income REIT by 70.7% in the 1st quarter. UBS Group AG now owns 42,472 shares of the real estate investment trust’s stock worth $1,095,000 after acquiring an additional 17,586 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Select Income REIT in the 1st quarter worth $142,000. Hedge funds and other institutional investors own 48.13% of the company’s stock.

Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Select Income REIT from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. FBR & Co reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Select Income REIT in a research note on Friday, October 27th. B. Riley reaffirmed a “buy” rating on shares of Select Income REIT in a research note on Wednesday, November 1st. Zacks Investment Research lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Deutsche Bank AG lifted their price objective on shares of Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $22.17.

Shares of Select Income REIT (NASDAQ:SIR) opened at $25.37 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.21. Select Income REIT has a 52 week low of $22.51 and a 52 week high of $26.79. The stock has a market cap of $2,270.00, a price-to-earnings ratio of 9.47 and a beta of 0.79.

Select Income REIT (NASDAQ:SIR) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.01). The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. Select Income REIT had a return on equity of 4.36% and a net margin of 19.15%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. research analysts forecast that Select Income REIT will post 2.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, October 23rd were issued a $0.51 dividend. The ex-dividend date was Friday, October 20th. This represents a $2.04 annualized dividend and a yield of 8.04%. Select Income REIT’s dividend payout ratio (DPR) is presently 204.00%.

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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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