Wells Fargo & Company MN raised its holdings in Select Income REIT (NASDAQ:SIR) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 229,907 shares of the real estate investment trust’s stock after buying an additional 5,863 shares during the period. Wells Fargo & Company MN owned 0.26% of Select Income REIT worth $5,525,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Sei Investments Co. increased its stake in Select Income REIT by 3,984.2% in the 2nd quarter. Sei Investments Co. now owns 4,125 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 4,024 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Select Income REIT by 15.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,343 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 575 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Select Income REIT in the 2nd quarter valued at $123,000. Daiwa Securities Group Inc. increased its stake in Select Income REIT by 13.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 700 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Select Income REIT in the 1st quarter valued at $141,000. Hedge funds and other institutional investors own 48.23% of the company’s stock.
Select Income REIT (SIR) opened at 24.49 on Thursday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 25.51 and a beta of 0.74. Select Income REIT has a 1-year low of $22.51 and a 1-year high of $26.79. The stock’s 50 day moving average is $23.36 and its 200 day moving average is $24.14.
Select Income REIT (NASDAQ:SIR) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). The firm had revenue of $115.87 million during the quarter, compared to analysts’ expectations of $117.21 million. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. During the same quarter in the prior year, the company earned $0.72 EPS. Analysts predict that Select Income REIT will post $0.99 EPS for the current fiscal year.
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Several brokerages have issued reports on SIR. BidaskClub upgraded shares of Select Income REIT from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research lowered shares of Select Income REIT from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
About Select Income REIT
Select Income REIT is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of December 31, 2016, the Company owned 121 properties (362 buildings, leasable land parcels and easements) with approximately 44.8 million rentable square feet.
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