NYSE: SIR...$23.44...Quarterly Dividend:$0.50...Yield:8.53%
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As of March 31, 2015, the weighted average remaining term of our leases (based on annualized rents) was nearly 11 years.
Diverse tenant base.
As of March 31, 2015, our 115 properties (354 buildings and land parcels) were nearly 98% leased and no tenant was responsible for more than 4% of our annualized rents.
Solid internal growth.
Since 2004, many of our Hawaii land leases have had at least one rent reset, resulting in a rent increase, on average, of approximately 35%.
Strong external growth.
In January 2015, we enhanced all of our core portfolio metrics and positioned SIR as the premier single tenant net lease office and industrial REIT by acquiring Cole Corporate Income Trust.
Most of our leases are net leases, where the tenant either pays directly or reimburses us for all, or substantially all, property level operating expenses and capital expenditures, such as real estate taxes, insurance, utilities, maintenance and repairs, other than, in certain circumstances, roof and structural element-related expenditures.
Our current common share distribution of $0.50 per share, per quarter ($2.00 per share, per year) has increased by 25% since our IPO in March 2012 and is well covered, with a normalized funds from operation (FFO) payout ratio of 69% as of March 31, 2015.
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Single Tenant Office & Industrial
Select Income REIT is a real estate investment trust, or REIT, which primarily owns office and industrial properties that are net leased to single tenants throughout the United States.
Select Income REIT Announces Annual Meeting Results
Select Income REIT Announces First Quarter 2015 Results
Select Income REIT First Quarter Conference Call Scheduled for Tuesday, April 28th
Select Income REIT
Two Newton Place, 255 Washington Street, Newton, MA 02458-1634
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