Select Income REIT (SIR) Upgraded by BidaskClub to Sell

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

Several other brokerages have also issued reports on SIR. ValuEngine lowered shares of Select Income REIT from a hold rating to a sell rating in a research note on Tuesday, July 31st. Morgan Stanley raised shares of Select Income REIT from an underweight rating to an equal weight rating and lifted their price objective for the company from $19.00 to $24.00 in a research report on Wednesday, September 19th. JMP Securities downgraded shares of Select Income REIT to a hold rating in a research report on Monday, September 17th. Zacks Investment Research downgraded shares of Select Income REIT from a hold rating to a sell rating in a research report on Thursday, July 5th. Finally, TheStreet downgraded shares of Select Income REIT from a b- rating to a c rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $23.75.

SIR 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. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.87. Select Income REIT has a twelve month low of $17.90 and a twelve month high of $26.26. The firm has a market capitalization of $1.96 billion, a P/E ratio of 6.97, a PEG ratio of 3.74 and a beta of 0.74.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Select Income REIT during the 2nd quarter worth about $126,000. Bridgeworth LLC bought a new stake in shares of Select Income REIT during the 2nd quarter worth about $144,000. Eii Capital Management Inc. boosted its holdings in shares of Select Income REIT by 118.8% during the 2nd quarter. Eii Capital Management Inc. now owns 9,221 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 5,006 shares during the period. Bank of Montreal Can bought a new stake in shares of Select Income REIT during the 2nd quarter worth about $218,000. Finally, Paloma Partners Management Co bought a new stake in shares of Select Income REIT during the 2nd quarter worth about $219,000. 49.01% of the stock is owned by institutional investors.

Select Income REIT Company Profile

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.

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Analyst Recommendations for Select Income REIT (NASDAQ:SIR)

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