Select Income REIT (SIR) was Initiated by FBR Capital to “Outperform” and the brokerage firm has set the Price Target at $35. FBR Capital advised their investors in a research report released on Aug 22, 2016.
Many Wall Street Analysts have commented on Select Income REIT. Select Income REIT was Upgraded by JMP Securities to ” Mkt Outperform” on Aug 22, 2016.
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 closed down -0.26 points or -0.97% at $26.42 with 2,89,926 shares getting traded on Friday. Post opening the session at $26.68, the shares hit an intraday low of $26.325 and an intraday high of $26.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.