InfraREIT (NYSE:HIFR) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of InfraREIT (NYSE:HIFR) from a hold rating to a strong sell rating in a research report sent to investors on Monday, November 13th.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

A number of other equities analysts have also recently issued reports on HIFR. Evercore ISI restated an outperform rating and issued a $24.00 price objective on shares of InfraREIT in a research note on Saturday, September 30th. BidaskClub raised shares of InfraREIT from a buy rating to a strong-buy rating in a report on Thursday, August 24th. Finally, Royal Bank Of Canada reissued a hold rating and set a $22.00 price objective on shares of InfraREIT in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. InfraREIT currently has an average rating of Hold and an average target price of $23.67.

InfraREIT (HIFR) traded down $0.04 during trading hours on Monday, reaching $21.08. 118,141 shares of the company traded hands, compared to its average volume of 123,025. InfraREIT has a 1 year low of $16.00 and a 1 year high of $23.22. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.90.

In other news, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.43, for a total value of $1,796,373.84. Following the transaction, the insider now owns 4,298,306 shares of the company’s stock, valued at approximately $96,411,003.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.00% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in InfraREIT by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock worth $55,909,000 after buying an additional 190,249 shares during the period. State Street Corp raised its holdings in shares of InfraREIT by 10.5% in the first quarter. State Street Corp now owns 787,301 shares of the real estate investment trust’s stock valued at $14,173,000 after purchasing an additional 74,806 shares during the last quarter. Swiss National Bank raised its holdings in shares of InfraREIT by 8.8% in the second quarter. Swiss National Bank now owns 72,900 shares of the real estate investment trust’s stock valued at $1,396,000 after purchasing an additional 5,900 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of InfraREIT by 77,669.0% in the second quarter. PNC Financial Services Group Inc. now owns 22,553 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 22,524 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of InfraREIT by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after purchasing an additional 190,748 shares during the last quarter. Hedge funds and other institutional investors own 84.74% of the company’s stock.

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About InfraREIT

InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen.

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