Pensionfund Sabic Lowers stake in Select Income REIT (SIR)

Select Income REIT (SIR) : Pensionfund Sabic reduced its stake in Select Income REIT by 14.57% during the most recent quarter end. The investment management company now holds a total of 46,900 shares of Select Income REIT which is valued at $1,179,066 after selling 8,000 shares in Select Income REIT , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Select Income REIT makes up approximately 0.37% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Fox Run Management L.l.c. reduced its stake in SIR by selling 9,500 shares or 44.19% in the most recent quarter. The Hedge Fund company now holds 12,000 shares of SIR which is valued at $301,680. Select Income REIT makes up approx 0.18% of Fox Run Management L.l.c.’s portfolio.Naples Global Advisors boosted its stake in SIR in the latest quarter, The investment management firm added 3,575 additional shares and now holds a total of 44,155 shares of Select Income REIT which is valued at $1,127,719. Select Income REIT makes up approx 0.44% of Naples Global Advisors’s portfolio. First Mercantile Trust Co sold out all of its stake in SIR during the most recent quarter. The investment firm sold 3,900 shares of SIR which is valued $99,255.Simplex Trading reduced its stake in SIR by selling 2,135 shares or 70.25% in the most recent quarter. The Hedge Fund company now holds 904 shares of SIR which is valued at $23,007.Bnp Paribas Arbitrage Sa boosted its stake in SIR in the latest quarter, The investment management firm added 2,804 additional shares and now holds a total of 5,892 shares of Select Income REIT which is valued at $149,775.

Select Income REIT closed down -0.4 points or -1.57% at $25.14 with 3,09,658 shares getting traded on Tuesday. Post opening the session at $25.51, the shares hit an intraday low of $25.01 and an intraday high of $25.62 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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. FBR Capital Initiated Select Income REIT on Aug 22, 2016 to “Outperform”, Price Target of the shares are set at $35.

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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