Metropolitan Life Insurance Co. NY boosted its position in shares of Select Income REIT (NASDAQ:SIR) by 294.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,277 shares of the real estate investment trust’s stock after purchasing an additional 24,841 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Select Income REIT were worth $245,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in SIR. Csenge Advisory Group bought a new position in Select Income REIT during the 3rd quarter worth about $35,000. Capital Investment Advisory Services LLC bought a new position in Select Income REIT during the 4th quarter worth about $35,000. Caption Management LLC bought a new position in Select Income REIT during the 4th quarter worth about $59,000. State Board of Administration of Florida Retirement System bought a new position in Select Income REIT during the 4th quarter worth about $89,000. Finally, Principal Financial Group Inc. increased its holdings in Select Income REIT by 23.3% during the 4th quarter. Principal Financial Group Inc. now owns 12,098 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 2,287 shares in the last quarter. Hedge funds and other institutional investors own 50.06% of the company’s stock.
SIR has been the subject of several analyst reports. ValuEngine cut Select Income REIT from a “sell” rating to a “strong sell” rating in a report on Friday, December 28th. BidaskClub cut Select Income REIT from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Finally, Zacks Investment Research cut Select Income REIT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.00.
Shares of NASDAQ SIR opened at $7.36 on Friday. The stock has a market capitalization of $659.09 million, a PE ratio of 2.65, a P/E/G ratio of 1.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.71 and a quick ratio of 1.71. Select Income REIT has a fifty-two week low of $6.87 and a fifty-two week high of $25.18.
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Select Income REIT Company Profile
SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, ILPT, properties that are primarily net leased to single tenants. As of September 30, 2018, our consolidated portfolio included 368 buildings, leasable land parcels and easements with approximately 45.8 million rentable square feet located in 36 states.
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