TIER REIT Inc (TIER) Stock Rating Lowered by TheStreet
TIER REIT Inc (OTCMKTS:TIER) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Separately, Zacks Investment Research cut TIER REIT from a “buy” rating to a “sell” rating in a report on Wednesday, July 20th.
Shares of TIER REIT (OTCMKTS:TIER) opened at 14.38 on Tuesday. The stock’s market cap is $686.59 million. TIER REIT has a 1-year low of $12.52 and a 1-year high of $17.81. The company has a 50-day moving average price of $15.63 and a 200-day moving average price of $15.52.
TIER REIT (OTCMKTS:TIER) last issued its earnings results on Monday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.04. The business earned $64.30 million during the quarter, compared to the consensus estimate of $70 million. On average, equities analysts expect that TIER REIT will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.01%.
Large investors have recently added to or reduced their stakes in the stock. Engine Capital Management LLC bought a new position in TIER REIT during the second quarter worth approximately $13,736,000. Schwab Charles Investment Management Inc. raised its position in TIER REIT by 54.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 282,982 shares of the company’s stock worth $4,339,000 after buying an additional 100,093 shares in the last quarter. Legal & General Group Plc raised its position in TIER REIT by 6.8% in the second quarter. Legal & General Group Plc now owns 82,290 shares of the company’s stock worth $1,258,000 after buying an additional 5,248 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in TIER REIT during the second quarter worth approximately $625,000. Finally, Stifel Financial Corp bought a new position in TIER REIT during the second quarter worth approximately $287,000.
TIER REIT Company Profile
TIER REIT, Inc is a self-managed real estate investment trust. The Company is engaged in acquiring, developing and operating a portfolio of office properties in certain markets of the United States. The Company’s business is primarily conducted through Tier Operating Partnership LP. The Company holds interests in approximately 30 operating office properties, over two non-operating properties and a development property located in approximately 20 markets across the United States.
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