SG Americas Securities LLC acquired a new position in shares of TIER REIT Inc (NYSE:TIER) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,779 shares of the real estate investment trust’s stock, valued at approximately $125,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in shares of TIER REIT in the fourth quarter valued at approximately $202,000. RiverPoint Capital Management LLC acquired a new stake in shares of TIER REIT in the fourth quarter valued at approximately $204,000. Xact Kapitalforvaltning AB acquired a new stake in shares of TIER REIT in the fourth quarter valued at approximately $219,000. Two Sigma Investments LP acquired a new stake in shares of TIER REIT in the fourth quarter valued at approximately $254,000. Finally, AMP Capital Investors Ltd acquired a new stake in shares of TIER REIT in the fourth quarter valued at approximately $296,000. Institutional investors own 62.00% of the company’s stock.
TIER has been the subject of a number of analyst reports. BMO Capital Markets reiterated a “buy” rating on shares of TIER REIT in a research report on Thursday, May 17th. ValuEngine raised shares of TIER REIT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the company a “buy” rating in a research note on Tuesday, March 6th. TheStreet cut shares of TIER REIT from a “c” rating to a “d+” rating in a research note on Wednesday, March 28th. Finally, JMP Securities lifted their price objective on shares of TIER REIT from $23.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, June 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. TIER REIT has an average rating of “Buy” and a consensus target price of $22.40.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.00%. TIER REIT’s payout ratio is presently 45.86%.
TIER REIT Company Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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