Zacks Investment Research downgraded shares of TIER REIT (NYSE:TIER) from a hold rating to a sell rating in a research note released on Friday.
According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “
Several other brokerages have also recently issued reports on TIER. Cantor Fitzgerald began coverage on shares of TIER REIT in a report on Saturday, December 30th. They issued an overweight rating and a $22.00 target price for the company. BMO Capital Markets reaffirmed a buy rating and issued a $20.00 target price on shares of TIER REIT in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $21.33.
TIER REIT (NYSE:TIER) last issued its earnings results on Monday, February 12th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.62). The firm had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $56.06 million. TIER REIT had a return on equity of 12.09% and a net margin of 38.94%. analysts anticipate that TIER REIT will post 1.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.77%. TIER REIT’s payout ratio is 41.38%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of TIER REIT by 4.6% during the fourth quarter. BlackRock Inc. now owns 4,219,774 shares of the real estate investment trust’s stock valued at $86,040,000 after purchasing an additional 186,042 shares during the last quarter. State Street Corp raised its holdings in shares of TIER REIT by 2.4% during the second quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock valued at $29,634,000 after purchasing an additional 37,056 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of TIER REIT by 14.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,264,053 shares of the real estate investment trust’s stock valued at $25,775,000 after purchasing an additional 155,910 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of TIER REIT by 9,612.2% during the fourth quarter. Schroder Investment Management Group now owns 602,349 shares of the real estate investment trust’s stock valued at $12,282,000 after purchasing an additional 596,147 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of TIER REIT by 7.6% during the fourth quarter. Hood River Capital Management LLC now owns 585,947 shares of the real estate investment trust’s stock valued at $11,947,000 after purchasing an additional 41,441 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.
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TIER REIT Company Profile
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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