Wells Fargo Starts Select Income REIT (SIR) at Market Perform; Large Potential in Hawaii

Wells Fargo initiates coverage on Select Income REIT (NYSE: SIR) with a Market Perform. PT ranget $23-25.

Analyst, Brendan Maiorana, said, "SIR offers stability of cash flow with potential for rent increases via Hawaiian land portfolio. Interest rate resets may create a headwind for earnings growth...we'd be more constructive on SIR if
we felt acquisition growth would be low, but we see this as unlikely...FY2012 and FY2013 FFO estimates are $2.36 and $2.29, respectively."

For an analyst ratings summary and ratings history on Select Income REIT click here. For more ratings news on Select Income REIT click here.

Shares of Select Income REIT closed at $23.01 yesterday.

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