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Government Properties Income Trust: Proposed REIT merger is credit neg...

The merger provides Government Properties with increased scale and addresses several operating challenges, while Select Income will lose some asset type diversification and increase leverage

Select Income REIT: Update following merger announcement

Our credit view of SIR, reflecting negative credit implications of the proposed merger, external management structure, strong liquidity and long-term leases providing earnings stability.

Moody's affirms GOV's ratings, outlook remains negative; Select Income...

Moody's Investors Service ("Moody's") has affirmed the Baa3 senior unsecured rating of Government Properties Income Trust (GOV). The outlook remains negative. Concurrently, Moody's also affirmed the ratings of Select Income REIT (SIR), including its Baa3 senior unsecured rating. SIR's ...

 PRESS RELEASE

Select Income REIT Announces First Quarter 2018 Results

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced financial results for the quarter ended March 31, 2018. David Blackman, President and Chief Operating Officer of SIR, made the following statement: “During the first quarter of 2018, Select Income REIT made important progress executing its strategic operating plan. Our consolidated subsidiary, Industrial Logistics Properties Trust (ILPT), completed its initial public offering, allowing us to create a pure play industrial REIT at ...

 PRESS RELEASE

Select Income REIT Announces Quarterly Dividend on Common Shares

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced a regular quarterly cash distribution on its common shares of $0.51 per common share ($2.04 per share per year). This distribution will be paid to SIR’s common shareholders of record as of the close of business on April 30, 2018 and distributed on or about May 17, 2018. Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is managed by the operating subsidiary o...

 PRESS RELEASE

Select Income REIT First Quarter 2018 Conference Call Scheduled for Tu...

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that it will issue a press release containing its first quarter 2018 financial results before the Nasdaq opens on Tuesday, May 1, 2018. At 10:00 a.m. Eastern Time that morning, President David Blackman and Chief Financial Officer John Popeo will host a conference call to discuss these results. The conference call telephone number is (877) 328-4494. Participants calling from outside the United States and Canada should dial (412) 317-5433. No pass...

 PRESS RELEASE

Select Income REIT Announces Property Achieves LEED Gold Certification

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that its property located at 2555 Grand Boulevard in Kansas City, MO, achieved LEED Gold Certification from the US Green Building Council (USGBC). This 595,607 square foot, Class A office building earned 60-79 points across several categories, including energy use and air quality, indicating that it is a highly efficient and sustainable green building. The property is managed by The RMR Group LLC. The RMR Group LLC manages Select Income REIT and...

 PRESS RELEASE

Select Income REIT Names David M. Blackman as Managing Trustee

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that David M. Blackman has been elected as a Managing Trustee of SIR effective April 2, 2018 to fill a vacancy on the Board. Mr. Blackman (age 55) has been President and Chief Operating Officer of SIR since 2012. In addition, Mr. Blackman is Executive Vice President of The RMR Group LLC and serves as an executive officer of other publicly traded companies managed by The RMR Group LLC. Prior to joining The RMR Group in 2009, Mr. Blackman was a re...

 PRESS RELEASE

Select Income REIT Announces Fourth Quarter and Year End 2017 Results

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq:SIR) today announced financial results for the quarter and year ended December 31, 2017. David Blackman, President and Chief Operating Officer of SIR, made the following statement: “During the fourth quarter of 2017, Select Income REIT’s core operations were solid, as evidenced by our 1.2% increase in same property Cash Basis NOI and our strong leasing volume. We completed over 568,000 square feet of leases for rents that were 21% higher than previous...

 PRESS RELEASE

Select Income REIT Fourth Quarter and Year End 2017 Conference Call Sc...

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that it will issue a press release containing its fourth quarter and year end 2017 financial results before the Nasdaq opens on Friday, February 16, 2018. At 10:00 a.m. Eastern Time that morning, President David Blackman and Chief Financial Officer John Popeo will host a conference call to discuss these results. The conference call telephone number is (877) 328-4494. Participants calling from outside the United States and Canada should dial (412...

 PRESS RELEASE

Select Income REIT Announces Quarterly Dividend on Common Shares

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced a regular quarterly cash distribution on its common shares of $0.51 per common share ($2.04 per share per year). This distribution will be paid to SIR’s common shareholders of record as of the close of business on January 29, 2018 and distributed on or about February 22, 2018. Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is managed by the operating subsi...

 PRESS RELEASE

Select Income REIT Announces 2017 Dividend Allocation

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that the characterization of dividends for 2017 income tax reporting purposes is as follows:   Common Shares             ...

Please Change Name Dilara Sukhov ... (+2)
  • Please Change Name Dilara Sukhov
  • CFA

SELECT INCOME REIT: Update following ratings downgrade

FINANCIAL INSTITUTIONS CREDIT OPINION 28 November 2017 Update RATINGS Select Income REIT Domicile Newton, Massachusetts, United States Long Term Rating Baa3 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Dilara Sukhov, CF

 PRESS RELEASE

Select Income REIT Announces Early Redemption of its $350 Million of O...

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced the early redemption of its outstanding 2.85% Senior Notes due 2018 at a redemption price equal to the principal amount of $350.0 million, plus accrued and unpaid interest to, but excluding the date of redemption. The redemption price is expected to be paid on or about January 2, 2018. SIR currently expects to fund this redemption by using cash on hand and borrowings under its revolving credit facility. Select Income REIT is a real estate invest...

Please Change Name Dilara Sukhov ... (+2)
  • Please Change Name Dilara Sukhov
  • CFA

SELECT INCOME REIT: Update following ratings downgrade

FINANCIAL INSTITUTIONS CREDIT OPINION 28 November 2017 Update RATINGS Select Income REIT Domicile Newton, Massachusetts, United States Long Term Rating Baa3 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Dilara Sukhov, CF

Please Change Name Dilara Sukhov ... (+2)
  • Please Change Name Dilara Sukhov
  • CFA

Moody's downgrades Select Income's ratings on spin-off announcement

Rating Action: Moody's downgrades Select Income's ratings on spin-off announcement. Global Credit Research- 22 Nov 2017. Approximately $1.8 billion in securities affected.

 PRESS RELEASE

Select Income REIT Announces Subsidiary IPO Filing

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that its subsidiary, Industrial Logistics Properties Trust, or ILPT, has filed a registration statement with the Securities and Exchange Commission, or SEC, for an initial public offering, or an IPO, of common shares. ILPT will own almost all of SIR’s industrial properties located in Hawaii, totaling 226 properties, as well as 40 industrial and logistics properties located in 24 other states. Upon completion of the IPO, it is expected that SIR will conti...

 PRESS RELEASE

Select Income REIT Announces Third Quarter 2017 Results

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced financial results for the quarter and nine months ended September 30, 2017. David Blackman, President and Chief Operating Officer of SIR, made the following statement: "Select Income REIT continued its business strategy during the third quarter of 2017. We experienced continued leasing momentum, entering new and renewal leases for approximately 266,000 square feet with a weighted average lease term of 8.9 years and commitments for leasi...

 PRESS RELEASE

Select Income REIT Third Quarter 2017 Conference Call Scheduled for Fr...

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced that it will issue a press release containing its third quarter 2017 financial results before the Nasdaq opens on Friday, October 27, 2017. At 10:00 a.m. Eastern Time that morning, President David Blackman and Chief Financial Officer John Popeo will host a conference call to discuss these results. The conference call telephone number is (877) 328-4494. Participants calling from outside the United States and Canada should dial (412) 317-5433. No ...

 PRESS RELEASE

Select Income REIT Announces Quarterly Dividend on Common Shares

NEWTON, Mass.--(BUSINESS WIRE)-- Select Income REIT (Nasdaq: SIR) today announced a regular quarterly cash distribution on its common shares of $0.51 per common share ($2.04 per share per year). This distribution will be paid to SIR’s common shareholders of record as of the close of business on October 23, 2017 and distributed on or about November 16, 2017. Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is managed by the operating subsi...

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