Select Income REIT (SIR) Announces Earnings Results, Misses Expectations By $0.30 EPS
Select Income REIT (NASDAQ:SIR) issued its quarterly earnings results on Friday, February 16th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.30), Bloomberg Earnings reports. Select Income REIT had a return on equity of 3.31% and a net margin of 14.29%. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.78 million. During the same period in the previous year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis.
Shares of Select Income REIT (NASDAQ:SIR) opened at $19.02 on Tuesday. Select Income REIT has a 52 week low of $17.90 and a 52 week high of $26.79. The firm has a market capitalization of $1,696.67, a P/E ratio of 7.15 and a beta of 0.82. The company has a debt-to-equity ratio of 1.55, a quick ratio of 7.76 and a current ratio of 7.76.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, January 29th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, January 26th. This represents a $2.04 annualized dividend and a yield of 10.73%. Select Income REIT’s payout ratio is 272.00%.
A number of large investors have recently made changes to their positions in SIR. Schroder Investment Management Group acquired a new position in Select Income REIT in the 3rd quarter valued at approximately $185,000. BB&T Securities LLC acquired a new position in Select Income REIT in the 4th quarter valued at approximately $211,000. Great West Life Assurance Co. Can raised its holdings in Select Income REIT by 68.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 9,103 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 3,697 shares in the last quarter. Amalgamated Bank acquired a new position in Select Income REIT in the 4th quarter valued at approximately $214,000. Finally, Lourd Capital LLC acquired a new position in Select Income REIT in the 4th quarter valued at approximately $218,000. Hedge funds and other institutional investors own 49.83% of the company’s stock.
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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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