Hgi Capital Management adds Select Income REIT (SIR) to its portfolio

Select Income REIT (SIR) : Hgi Capital Management added new position in Select Income REIT during the most recent quarter end. The investment management firm now holds 158,125 shares of Select Income REIT which is valued at $3.8 Million , the company said in a statement filed on May 12, 2016 with the SEC.Select Income REIT makes up approximately 6.05% of Hgi Capital Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities added SIR to its portfolio by purchasing 7,205 company shares during the most recent quarter which is valued at $175,154. Balentine sold out all of its stake in SIR during the most recent quarter. The investment firm sold 11,677 shares of SIR which is valued $283,868.Benchmark Capital Advisors reduced its stake in SIR by selling 5,900 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 87,100 shares of SIR which is valued at $2.1 Million. Select Income REIT makes up approx 1.84% of Benchmark Capital Advisors’s portfolio.Tiaa Cref Investment Management reduced its stake in SIR by selling 8,043 shares or 3.82% in the most recent quarter. The Hedge Fund company now holds 202,465 shares of SIR which is valued at $5 Million.Russell Frank Co reduced its stake in SIR by selling 107,729 shares or 97.51% in the most recent quarter. The Hedge Fund company now holds 2,754 shares of SIR which is valued at $63,755.

Select Income REIT opened for trading at $23.89 and hit $24.08 on the upside on Friday, eventually ending the session at $24.06, with a gain of 1.26% or 0.3 points. The heightened volatility saw the trading volume jump to 4,18,963 shares. Company has a market cap of $2,150 M.

On the company’s financial health, Select Income REIT reported $0.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $117.23 million for the quarter, 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 (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.

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