The stock of Select Income REIT (NASDAQ:SIR) gapped down by $0.02 today and has $25.56 target or 5.00% below today’s $26.90 share price. The 9 months technical chart setup indicates high risk for the $2.39 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $25.56 price target is reached, the company will be worth $119.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.25% or $0.34 during the last trading session, hitting $26.9. Select Income REIT (NASDAQ:SIR) has risen 26.29% since March 1, 2016 and is uptrending. It has outperformed by 14.07% the S&P500.
Analysts await Select Income REIT (NASDAQ:SIR) to report earnings on October, 25. They expect $0.75 earnings per share, up 4.17% or $0.03 from last year’s $0.72 per share. SIR’s profit will be $66.64M for 8.97 P/E if the $0.75 EPS becomes a reality. After $0.72 actual earnings per share reported by Select Income REIT for the previous quarter, Wall Street now forecasts 4.17% EPS growth.
According to Zacks Investment Research, “Select Income REIT is a real estate company formed to primarily own and invest in net leased, single tenant properties. It has properties in Oahu, Hawaii and the mainland United States. Select Income REIT is headquartered in Newton, MA.”
Insitutional Activity: The institutional sentiment decreased to 1.23 in Q2 2016. Its down 0.41, from 1.64 in 2016Q1. The ratio dived, as 13 funds sold all Select Income REIT shares owned while 60 reduced positions. 24 funds bought stakes while 66 increased positions. They now own 38.69 million shares or 2.74% more from 37.66 million shares in 2016Q1.
Qs Ltd holds 0% of its portfolio in Select Income REIT (NASDAQ:SIR) for 6,021 shares. Martingale Asset Management Ltd Partnership last reported 0.04% of its portfolio in the stock. Credit Agricole S A accumulated 0% or 20,975 shares. Raymond James Fincl Svcs owns 48,005 shares or 0.01% of their US portfolio. Wasatch Advsrs Inc has 0.06% invested in the company for 145,532 shares. City Company, a West Virginia-based fund reported 388 shares. Jpmorgan Chase & holds 0% or 41,975 shares in its portfolio. Moreover, Tower Research Capital Limited Co (Trc) has 0.01% invested in Select Income REIT (NASDAQ:SIR) for 3,453 shares. Fincl Bank Of America Corporation De accumulated 0% or 51,498 shares. The United Kingdom-based Barclays Public Ltd has invested 0% in Select Income REIT (NASDAQ:SIR). Moreover, Millennium Ltd Limited Liability Company has 0.01% invested in Select Income REIT (NASDAQ:SIR) for 114,677 shares. Credit Suisse Ag has 189,558 shares for 0.01% of their US portfolio. Citadel Advisors Lc has 0% invested in the company for 42,299 shares. Advisors Asset Mngmt holds 0% of its portfolio in Select Income REIT (NASDAQ:SIR) for 8,671 shares. Tiaa Cref Trust Fsb Mo has 0.02% invested in the company for 82,489 shares.
More notable recent Select Income REIT (NASDAQ:SIR) news were published by: Marketwatch.com which released: “Select Income REIT started at outperform with $35 stock price target at FBR & Co.” on August 12, 2011, also Fool.com with their article: “1 Key Select Income REIT Stock Number You Must Know” published on June 07, 2016, Fool.com published: “Will Select Income REIT Sink or Swim?” on April 12, 2016. More interesting news about Select Income REIT (NASDAQ:SIR) were released by: Wsj.com and their article: “Select Income REIT to Buy Cole Corporate Income Trust for $3 Billion” published on September 02, 2014 as well as Seekingalpha.com‘s news article titled: “Select Income REIT’s (SIR) Management on Q2 2016 Results – Earnings Call …” with publication date: July 26, 2016.
SIR Company Profile
Select Income REIT, incorporated on December 19, 2011, is a real estate investment trust. The Firm 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 Firm owns approximately 120 properties with over 44.7 million rentable square feet. The Company’s properties include approximately 110 office and industrial properties with over 26.9 million square feet located in approximately 30 states across the mainland United States (Mainland Properties), and over 10 properties located on the island of Oahu, Hawaii (Hawaii Properties), with approximately 17.8 million rentable square feet that are primarily leased to industrial and commercial tenants.
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