NYSE: SIR...$24.69...Quarterly Dividend:$0.48...Yield:7.78%
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As of December 31, 2014, the weighted average remaining lease term of our leases (based on annualized rents) was nearly 11 years.
Diverse tenant base.
As of December 31, 2014, our 51 properties (281 buildings and land parcels) were leased to 276 different tenants with no tenant responsible for more than 7.4% 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 $0.48 per share, per quarter ($1.92 per share, per year) has increased by 20% since our IPO in March 2012 and is well covered, with a normalized funds from operation (FFO) payout ratio of 74% as of December 31, 2014.
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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 Fourth Quarter and Year End 2014 Results
Select Income REIT Fourth Quarter Conference Call Scheduled for Wednesday, February 18th
Select Income REIT Prices $1.45 Billion of Unsecured Senior Notes
Select Income REIT
Two Newton Place, 255 Washington Street, Newton, MA 02458-1634
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