Cornercap Investment Counsel Inc. Takes Position in Select Income REIT (SIR)

Cornercap Investment Counsel Inc. Takes Position in Select Income REIT (SIR)

Cornercap Investment Counsel Inc. purchased a new stake in Select Income REIT (NASDAQ:SIR) during the fourth quarter, Holdings Channel reports. The firm purchased 17,890 shares of the real estate investment trust’s stock, valued at approximately $451,000.

Select Income REIT (NASDAQ:SIR) traded down 1.64% on Friday, reaching $25.15. 27,835 shares of the company were exchanged. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 21.81 and a beta of 0.75. Select Income REIT has a 52 week low of $18.15 and a 52 week high of $27.97. The stock has a 50-day moving average price of $25.27 and a 200 day moving average price of $25.90.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 21st. Stockholders of record on Monday, January 23rd will be issued a $0.51 dividend. The ex-dividend date is Thursday, January 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.98%. Select Income REIT’s payout ratio is 177.39%.

A number of equities research analysts have recently weighed in on SIR shares. FBR & Co reissued an “outperform” rating and set a $34.00 price objective (down from $35.00) on shares of Select Income REIT in a report on Friday, October 28th. Zacks Investment Research raised shares of Select Income REIT from a “sell” rating to a “hold” rating in a report on Thursday, January 5th.

About Select Income REIT

Select Income REIT is a real estate investment trust. The Company primarily owns single tenant, net leased properties. The Company’s segment is the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. The Company owns approximately 120 properties with over 44.7 million rentable square feet.

Want to see what other hedge funds are holding SIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Income REIT (NASDAQ:SIR).

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