Select Income REIT (NYSE:SIR) declared a quarterly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be paid a dividend of 0.51 per share by the real estate investment trust on Thursday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date of this dividend is Wednesday, October 19th.
Select Income REIT (NYSE:SIR) opened at 25.85 on Friday. Select Income REIT has a 12 month low of $17.07 and a 12 month high of $27.97. The firm’s 50-day moving average is $26.72 and its 200-day moving average is $25.55.
Select Income REIT (NYSE:SIR) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.36. The firm had revenue of $114.90 million for the quarter, compared to the consensus estimate of $114.80 million. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Analysts expect that Select Income REIT will post $1.41 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of SIR. ProShare Advisors LLC acquired a new position in Select Income REIT during the second quarter worth approximately $202,000. Advisor Group Inc. acquired a new position in Select Income REIT during the second quarter worth approximately $624,000. Teachers Advisors Inc. boosted its position in Select Income REIT by 12.9% in the second quarter. Teachers Advisors Inc. now owns 99,816 shares of the real estate investment trust’s stock worth $2,594,000 after buying an additional 11,403 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Select Income REIT by 2.2% in the second quarter. TIAA CREF Investment Management LLC now owns 197,705 shares of the real estate investment trust’s stock worth $5,138,000 after buying an additional 4,178 shares in the last quarter. Finally, AXA boosted its position in Select Income REIT by 40.9% in the second quarter. AXA now owns 52,700 shares of the real estate investment trust’s stock worth $1,370,000 after buying an additional 15,300 shares in the last quarter.
A number of research firms have issued reports on SIR. Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. JMP Securities raised Select Income REIT from a “market perform” rating to an “outperform” rating in a research report on Monday, August 22nd. Finally, FBR & Co began coverage on Select Income REIT in a research report on Monday, August 22nd. They set an “outperform” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $32.67.
About Select Income REIT
Select Income REIT is a real estate investment trust. The Company primarily owns single tenant, net leased properties. The Company’s segment is the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. The Company owns approximately 120 properties with over 44.7 million rentable square feet.
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