Balyasny Asset Management LLC Takes Position in Select Income REIT (SIR)

Balyasny Asset Management LLC purchased a new position in Select Income REIT (NASDAQ:SIR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,557 shares of the real estate investment trust’s stock, valued at approximately $1,671,000.

Several other hedge funds and other institutional investors have also modified their holdings of SIR. Bank of New York Mellon Corp raised its holdings in shares of Select Income REIT by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 734,875 shares of the real estate investment trust’s stock worth $18,953,000 after buying an additional 29,183 shares during the period. Swiss National Bank raised its holdings in shares of Select Income REIT by 2.6% in the first quarter. Swiss National Bank now owns 110,400 shares of the real estate investment trust’s stock worth $2,847,000 after buying an additional 2,800 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Select Income REIT by 23.7% in the first quarter. UBS Asset Management Americas Inc. now owns 128,392 shares of the real estate investment trust’s stock worth $3,311,000 after buying an additional 24,568 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Select Income REIT in the first quarter worth approximately $572,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Select Income REIT in the first quarter worth approximately $141,000. Hedge funds and other institutional investors own 48.23% of the company’s stock.

Select Income REIT (NASDAQ SIR) opened at 24.47 on Friday. The firm’s 50-day moving average price is $23.41 and its 200 day moving average price is $24.15. The stock has a market capitalization of $2.19 billion, a P/E ratio of 25.49 and a beta of 0.74. Select Income REIT has a 12-month low of $22.51 and a 12-month high of $26.79.

Select Income REIT (NASDAQ:SIR) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Select Income REIT had a return on equity of 4.18% and a net margin of 18.65%. The firm had revenue of $115.87 million for the quarter, compared to analyst estimates of $117.21 million. During the same quarter last year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Select Income REIT will post $0.99 EPS for the current year.

Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Select Income REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th.

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Select Income REIT Profile

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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Institutional Ownership by Quarter for Select Income REIT (NASDAQ:SIR)

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