Pvg Asset Management buys $6.2 Million stake in Select Income REIT (SIR)

Select Income REIT (SIR) : Pvg Asset Management scooped up 191,360 additional shares in Select Income REIT during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 255,819 shares of Select Income REIT which is valued at $6.2 Million.Select Income REIT makes up approximately 2.41% of Pvg Asset Management’s portfolio.

Other Hedge Funds, Including , Employees Retirement System Of Texas reduced its stake in SIR by selling 65,000 shares or 63.49% in the most recent quarter. The Hedge Fund company now holds 37,374 shares of SIR which is valued at $908,562. Select Income REIT makes up approx 0.01% of Employees Retirement System Of Texas’s portfolio.Penserra Capital Management boosted its stake in SIR in the latest quarter, The investment management firm added 218 additional shares and now holds a total of 666 shares of Select Income REIT which is valued at $16,190.Advantus Capital Management Inc reduced its stake in SIR by selling 60,500 shares or 38.26% in the most recent quarter. The Hedge Fund company now holds 97,642 shares of SIR which is valued at $2.4 Million. Select Income REIT makes up approx 0.07% of Advantus Capital Management Inc’s portfolio.Ifp Advisors Inc reduced its stake in SIR by selling 1,466 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 43,564 shares of SIR which is valued at $1.1 Million. Select Income REIT makes up approx 0.06% of Ifp Advisors Inc’s portfolio.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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