George Ronald Witten Purchases 7,000 Shares of TIER REIT Inc (TIER) Stock
TIER REIT Inc (OTCMKTS:TIER) Director George Ronald Witten acquired 7,000 shares of TIER REIT stock in a transaction dated Tuesday, November 15th. The shares were bought at an average price of $15.63 per share, for a total transaction of $109,410.00. Following the transaction, the director now owns 18,645 shares of the company’s stock, valued at $291,421.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of TIER REIT Inc (OTCMKTS:TIER) traded up 1.53% during midday trading on Wednesday, reaching $15.95. 147,897 shares of the company traded hands. The stock has a 50 day moving average price of $14.85 and a 200 day moving average price of $15.64. The firm’s market capitalization is $761.48 million. TIER REIT Inc has a 1-year low of $12.52 and a 1-year high of $17.81.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Analysts expect that TIER REIT Inc will post $1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Wednesday, December 28th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 23rd. This represents a $0.72 annualized dividend and a yield of 4.58%.
Large investors have recently added to or reduced their stakes in the company. Mizuho Trust & Banking Co. Ltd. bought a new stake in TIER REIT during the third quarter valued at approximately $180,000. Virginia Retirement Systems ET AL raised its position in shares of TIER REIT by 114.9% in the third quarter. Virginia Retirement Systems ET AL now owns 87,900 shares of the company’s stock worth $1,357,000 after buying an additional 47,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of TIER REIT during the third quarter worth about $508,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of TIER REIT during the third quarter worth about $120,000. Finally, California Public Employees Retirement System raised its position in shares of TIER REIT by 17.5% in the third quarter. California Public Employees Retirement System now owns 104,600 shares of the company’s stock worth $1,615,000 after buying an additional 15,600 shares during the period.
Several equities research analysts recently weighed in on TIER shares. Zacks Investment Research cut shares of TIER REIT from a “buy” rating to a “sell” rating in a research report on Wednesday, July 20th. TheStreet cut shares of TIER REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, October 11th.
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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