Select Income REITSIR was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $20.06 to $21.45 in the past one-month time frame.
The stock gained after the company reported that it will merge with Government Properties Trust to form a single real estate investment trust.
The company has seen one negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So, make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Select Income currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative .
Select Income REIT Price
A better-ranked stock in the REIT and Equity Trust - Residential industry is NexPoint Residential Trust, Inc. NXRT holding a Zacks Rank #2 (Buy).You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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