B. Riley Research Analysts Lift Earnings Estimates for Select Income REIT (SIR)
Select Income REIT (NASDAQ:SIR) – Research analysts at B. Riley increased their Q4 2017 EPS estimates for Select Income REIT in a report released on Thursday. B. Riley analyst B. Maher now expects that the real estate investment trust will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.70. B. Riley has a “Buy” rating and a $31.00 price objective on the stock.
A number of other equities analysts have also recently commented on SIR. BidaskClub cut Select Income REIT from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research cut Select Income REIT from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $23.92.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, January 29th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 10.14%. The ex-dividend date of this dividend is Friday, January 26th. Select Income REIT’s dividend payout ratio (DPR) is 204.00%.
A number of institutional investors have recently made changes to their positions in SIR. BlackRock Inc. boosted its stake in shares of Select Income REIT by 2.3% in the 4th quarter. BlackRock Inc. now owns 5,690,703 shares of the real estate investment trust’s stock valued at $143,008,000 after buying an additional 129,475 shares during the period. State Street Corp boosted its stake in shares of Select Income REIT by 5.6% in the 2nd quarter. State Street Corp now owns 1,565,702 shares of the real estate investment trust’s stock valued at $37,624,000 after buying an additional 83,346 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Select Income REIT by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,031,624 shares of the real estate investment trust’s stock valued at $24,161,000 after buying an additional 34,189 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Select Income REIT by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 753,163 shares of the real estate investment trust’s stock valued at $17,638,000 after buying an additional 7,425 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Select Income REIT by 9.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 733,508 shares of the real estate investment trust’s stock valued at $18,434,000 after buying an additional 64,952 shares during the period. Institutional investors own 47.80% of the company’s stock.
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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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