Bank of America Corp DE raised its position in shares of Select Income REIT (NASDAQ:SIR) by 66.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,894 shares of the real estate investment trust’s stock after buying an additional 76,167 shares during the period. Bank of America Corp DE owned approximately 0.21% of Select Income REIT worth $4,923,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in Select Income REIT by 3.7% in the first quarter. BNP Paribas Arbitrage SA now owns 26,393 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 934 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. Los Angeles Capital Management & Equity Research Inc. increased its position in Select Income REIT by 3.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,375 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 1,200 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. Finally, Private Advisor Group LLC increased its position in Select Income REIT by 3.8% in the first quarter. Private Advisor Group LLC now owns 41,032 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 1,521 shares during the last quarter. Institutional investors own 48.93% of the company’s stock.
Shares of Select Income REIT (NASDAQ:SIR) traded up 0.26% during mid-day trading on Tuesday, hitting $23.53. The stock had a trading volume of 10,628 shares. Select Income REIT has a 1-year low of $23.14 and a 1-year high of $27.88.
Select Income REIT (NASDAQ:SIR) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.04. The company had revenue of $115.87 million during the quarter, compared to analyst estimates of $117.21 million. Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. During the same period in the prior year, the firm earned $0.72 earnings per share. On average, analysts predict that Select Income REIT will post $1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, July 24th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $2.04 dividend on an annualized basis and a yield of 8.69%. Select Income REIT’s payout ratio is currently 210.31%.
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A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Select Income REIT from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of Select Income REIT from a “buy” rating to a “hold” rating in a research report on Friday.
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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