Select Income REIT (SIR) Reports Q1 Normalized FFO of $0.59

Select Income REIT (NASDAQ: SIR) reported Q1 Normalized FFO of $0.59, versus $0.74 reported last year.

Net income attributed to SIR was $6.7 million, or $0.08 per diluted share, for the quarter ended March 31, 2017, compared to $32.8 million, or $0.37 per diluted share, for the same quarter last year. Net income attributed to SIR per diluted share for the quarter ended March 31, 2017 includes a write-off of straight line rents receivable of $12.5 million, or $0.14 per diluted share, and a loss on asset impairment of $4.0 million, or $0.05 per diluted share, both of which are related to leases associated with a tenant bankruptcy at two properties, as well as estimated business management incentive fees of $7.8 million, or $0.09 per diluted share.

For earnings history and earnings-related data on Select Income REIT (SIR) click here.

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