Activist targets Select Income REIT

|By:, SA News Editor

Select Income REIT (NYSE:SIR) becomes the next Portnoy vehicle to be targeted by an activist as Lakewood Capital Management - an owner of 6.8% of the company - believes the stock to be conservatively worth 30-70% more than current levels. The current underpricing and dramatic underperformance, says Lakewood, is due to "widely-held concerns around corporate governance."

Lakewood's presentation

Equity Commonwealth (NYSE:EQC) shareholders have been through the drill and will also take notice.