Select Income REIT (SIR) Stock Rating Lowered by BidaskClub

Select Income REIT (NASDAQ:SIR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities analysts also recently weighed in on SIR. Zacks Investment Research downgraded Select Income REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Deutsche Bank lifted their target price on Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a research report on Thursday, October 26th. FBR & Co reiterated a “buy” rating and set a $34.00 target price on shares of Select Income REIT in a research report on Friday, October 27th. Finally, B. Riley reiterated a “buy” rating on shares of Select Income REIT in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Select Income REIT presently has an average rating of “Hold” and an average price target of $22.83.

Select Income REIT (NASDAQ SIR) traded up $0.30 during mid-day trading on Tuesday, hitting $25.61. The stock had a trading volume of 229,800 shares, compared to its average volume of 274,015. The stock has a market cap of $2,264.93, a P/E ratio of 9.44 and a beta of 0.77. Select Income REIT has a 52-week low of $22.51 and a 52-week high of $26.79. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.21.

Select Income REIT (NASDAQ:SIR) last released its earnings results on Friday, October 27th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.01). The company had revenue of $118.01 million for the quarter, compared to analysts’ expectations of $116.73 million. Select Income REIT had a net margin of 19.15% and a return on equity of 4.36%. Select Income REIT’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. sell-side analysts expect that Select Income REIT will post 2.7 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Select Income REIT by 3,984.2% in the second quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 4,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Select Income REIT by 15.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 575 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Select Income REIT in the second quarter worth about $123,000. Daiwa Securities Group Inc. increased its holdings in shares of Select Income REIT by 13.7% in the second quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 700 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Select Income REIT in the third quarter worth about $185,000. 48.07% of the stock is currently owned by institutional investors and hedge funds.

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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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