Sonora Investment Management buys $2,268,080 stake in Select Income REIT (SIR)

Select Income REIT (SIR) : Sonora Investment Management scooped up 50 additional shares in Select Income REIT during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 88,115 shares of Select Income REIT which is valued at $2,268,080.Select Income REIT makes up approximately 1.18% of Sonora Investment Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in SIR by selling 20,761 shares or 27.82% in the most recent quarter. The Hedge Fund company now holds 53,869 shares of SIR which is valued at $1,392,514. Select Income REIT makes up approx 0.05% of Msi Financial Services Inc’s portfolio.Legal General Group Plc boosted its stake in SIR in the latest quarter, The investment management firm added 12,908 additional shares and now holds a total of 159,192 shares of Select Income REIT which is valued at $4,002,087.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.Independent Portfolio Consultants reduced its stake in SIR by selling 425 shares or 5.44% in the most recent quarter. The Hedge Fund company now holds 7,390 shares of SIR which is valued at $187,854. Select Income REIT makes up approx 0.06% of Independent Portfolio Consultants’s portfolio.

Select Income REIT closed down -0.11 points or -0.43% at $25.74 with 1,24,941 shares getting traded on Friday. Post opening the session at $25.87, the shares hit an intraday low of $25.71 and an intraday high of $26.1 and the price fluctuated in this range throughout the day.Shares ended Friday 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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