Select Income REIT (SIR) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $0.74 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.75. The company posted revenue of $117.23 million in the period, compared to analysts expectations of $114.00 million. The company’s revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.
Select Income REIT opened for trading at $22.54 and hit $22.78 on the upside on Friday, eventually ending the session at $22.68, with a gain of 0.84% or 0.19 points. The heightened volatility saw the trading volume jump to 2,63,797 shares. Company has a market cap of $2,027 M.
Select Income REIT (SIR) is a real estate investment trust (REIT). The Company owns and invests in single tenant and net leased properties. The Company owns approximately 51 properties (281 buildings leasable land parcels and easements) located in 22 states that contain approximately 27.7 million rentable square feet and are approximately 96.4% leased (based on rentable square feet). Its properties are leased to over 262 different tenants with a weighted average remaining lease term (based on annualized rental revenue) of approximately 10.5 years. The Company’s Hawaii Properties consist of lands which are leased to third parties for rents that are periodically reset based on market values generally every five to ten years. Its Mainland Properties consists of properties which are net leased to single tenants.