Benchmark Capital Advisors Lowers stake in Select Income REIT (SIR)

Select Income REIT (SIR) : Benchmark Capital Advisors reduced its stake in Select Income REIT by 2.47% during the most recent quarter end. The investment management company now holds a total of 84,950 shares of Select Income REIT which is valued at $2,306,393 after selling 2,150 shares in Select Income REIT , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Select Income REIT makes up approximately 1.81% of Benchmark Capital Advisors’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in SIR in the latest quarter, The investment management firm added 1,134 additional shares and now holds a total of 9,378 shares of Select Income REIT which is valued at $254,613.Gerstein Fisher boosted its stake in SIR in the latest quarter, The investment management firm added 21,443 additional shares and now holds a total of 32,741 shares of Select Income REIT which is valued at $877,131. Select Income REIT makes up approx 0.11% of Gerstein Fisher’s portfolio.Private Capital Management Inc reduced its stake in SIR by selling 16,000 shares or 69.57% in the most recent quarter. The Hedge Fund company now holds 7,000 shares of SIR which is valued at $189,910. Select Income REIT makes up approx 0.18% of Private Capital Management Inc’s portfolio.Naples Global Advisors boosted its stake in SIR in the latest quarter, The investment management firm added 3,850 additional shares and now holds a total of 40,580 shares of Select Income REIT which is valued at $1,104,993. Select Income REIT makes up approx 0.44% of Naples Global Advisors’s portfolio. Cutler Group Lp sold out all of its stake in SIR during the most recent quarter. The investment firm sold 3,252 shares of SIR which is valued $88,552.

Select Income REIT opened for trading at $26.25 and hit $26.38 on the upside on Wednesday, eventually ending the session at $26.33, with a gain of 0.11% or 0.03 points. The heightened volatility saw the trading volume jump to 5,19,352 shares. Company has a market cap of $2,354 M.

On the company’s financial health, Select Income REIT reported $0.72 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $0.74. The company had revenue of $114.90 million for the quarter, compared to analysts expectations of $114.80 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 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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