Select Income REIT (SIR) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Select Income REIT (NASDAQ:SIR) from a strong sell rating to a sell rating in a report released on Tuesday morning.

Several other analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Select Income REIT from a sell rating to a hold rating in a research note on Tuesday. Morgan Stanley upgraded shares of Select Income REIT from an underweight rating to an equal weight rating and lifted their price objective for the stock from $19.00 to $24.00 in a research note on Wednesday, September 19th. JMP Securities cut shares of Select Income REIT to a hold rating in a research report on Monday, September 17th. TheStreet cut shares of Select Income REIT from a b- rating to a c rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research cut shares of Select Income REIT from a hold rating to a sell rating in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $23.75.

Select Income REIT stock traded down $0.50 during midday trading on Tuesday, hitting $19.39. The company’s stock had a trading volume of 2,040,968 shares, compared to its average volume of 609,173. Select Income REIT has a 1-year low of $17.90 and a 1-year high of $26.26. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 3.74 and a beta of 0.74.

Select Income REIT (NASDAQ:SIR) last issued its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.49). Select Income REIT had a return on equity of 3.55% and a net margin of 16.59%. The business had revenue of $116.00 million during the quarter, compared to analyst estimates of $118.56 million. During the same quarter last year, the firm earned $0.70 EPS. Select Income REIT’s revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Select Income REIT will post 2.14 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SIR. AdvisorNet Financial Inc increased its position in Select Income REIT by 32.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 10,317 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 2,542 shares in the last quarter. Allianz Asset Management GmbH increased its position in Select Income REIT by 4.5% during the 1st quarter. Allianz Asset Management GmbH now owns 62,429 shares of the real estate investment trust’s stock worth $1,217,000 after purchasing an additional 2,716 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Select Income REIT by 31.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 13,577 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 3,211 shares in the last quarter. Boulegeris Investments Inc. increased its position in Select Income REIT by 1.9% during the 2nd quarter. Boulegeris Investments Inc. now owns 185,844 shares of the real estate investment trust’s stock worth $4,176,000 after purchasing an additional 3,514 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Select Income REIT by 4.3% during the 2nd quarter. First Trust Advisors LP now owns 109,364 shares of the real estate investment trust’s stock worth $2,457,000 after purchasing an additional 4,520 shares in the last quarter. Institutional investors own 49.01% of the company’s stock.

About Select Income REIT

SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, Industrial Logistics Properties Trust, or ILPT, properties that are primarily net leased to single tenants. As of June 30, 2018, our consolidated portfolio included 367 buildings, leasable land parcels and easements with approximately 45.7 million rentable square feet located in 36 states.

Read More: Bond

Analyst Recommendations for Select Income REIT (NASDAQ:SIR)

Receive News & Ratings for Select Income REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Income REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply