Select Income REIT Announces Quarterly Dividend of $0.51 (SIR)

Select Income REIT (NASDAQ:SIR) announced a quarterly dividend on Thursday, October 18th, NASDAQ reports. Stockholders of record on Monday, October 29th will be given a dividend of 0.51 per share by the real estate investment trust on Thursday, November 15th. This represents a $2.04 annualized dividend and a dividend yield of 10.35%. The ex-dividend date of this dividend is Friday, October 26th.

Select Income REIT has increased its dividend by an average of 2.4% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Select Income REIT has a dividend payout ratio of 95.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Select Income REIT to earn $2.37 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 86.1%.

NASDAQ:SIR opened at $19.71 on Friday. The firm has a market capitalization of $1.77 billion, a PE ratio of 7.09, a P/E/G ratio of 3.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.62 and a quick ratio of 1.62. Select Income REIT has a twelve month low of $17.90 and a twelve month high of $26.26.

Select Income REIT (NASDAQ:SIR) last released its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.49). The company had revenue of $116.00 million during the quarter, compared to the consensus estimate of $118.56 million. Select Income REIT had a net margin of 16.59% and a return on equity of 3.55%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. Analysts forecast that Select Income REIT will post 2.02 EPS for the current fiscal year.

Several research firms have recently weighed in on SIR. BidaskClub upgraded shares of Select Income REIT from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 9th. ValuEngine upgraded shares of Select Income REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Morgan Stanley upgraded shares of Select Income REIT from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $19.00 to $24.00 in a research note on Wednesday, September 19th. JMP Securities lowered shares of Select Income REIT to a “hold” rating in a research note on Monday, September 17th. Finally, TheStreet lowered shares of Select Income REIT from a “b-” rating to a “c” rating in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.75.

About Select Income REIT

SIR is a real estate investment trust, or REIT, that owns directly or indirectly through its subsidiaries, including its majority owned subsidiary, Industrial Logistics Properties Trust, or ILPT, properties that are primarily net leased to single tenants. As of June 30, 2018, our consolidated portfolio included 367 buildings, leasable land parcels and easements with approximately 45.7 million rentable square feet located in 36 states.

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Dividend History for Select Income REIT (NASDAQ:SIR)

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