Morgan Stanley Cuts Stake in InfraREIT, Inc. (HIFR)
Morgan Stanley lowered its position in InfraREIT, Inc. (NYSE:HIFR) by 39.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 142,537 shares of the real estate investment trust’s stock after selling 93,327 shares during the period. Morgan Stanley owned 0.33% of InfraREIT worth $2,566,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. raised its position in InfraREIT by 218.3% in the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 7,885 shares in the last quarter. Clinton Group Inc. raised its position in InfraREIT by 7.0% in the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 845 shares in the last quarter. Karp Capital Management Corp purchased a new position in InfraREIT during the first quarter worth approximately $418,000. American International Group Inc. raised its position in InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 1,623 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in InfraREIT by 1.3% in the first quarter. Meeder Asset Management Inc. now owns 24,752 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 84.15% of the company’s stock.
InfraREIT, Inc. (NYSE HIFR) traded up 0.202% during trading on Friday, reaching $22.345. 20,060 shares of the company were exchanged. The firm has a 50-day moving average of $20.94 and a 200-day moving average of $18.99. InfraREIT, Inc. has a 52-week low of $14.59 and a 52-week high of $23.12. The firm has a market cap of $978.22 million, a price-to-earnings ratio of 18.793 and a beta of 0.49.
InfraREIT (NYSE:HIFR) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.12. The firm had revenue of $40.42 million for the quarter. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. On average, equities analysts forecast that InfraREIT, Inc. will post $1.28 EPS for the current year.
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A number of research firms recently commented on HIFR. BidaskClub raised shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price objective on shares of InfraREIT in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. InfraREIT has a consensus rating of “Buy” and an average target price of $23.50.
In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of InfraREIT stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the transaction, the insider now directly owns 5,398,153 shares of the company’s stock, valued at approximately $106,451,577.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 150,000 shares of InfraREIT stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $22.14, for a total transaction of $3,321,000.00. Following the transaction, the insider now directly owns 4,422,394 shares in the company, valued at $97,911,803.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,153,841 shares of company stock worth $24,994,891 over the last ninety days. Insiders own 28.00% of the company’s stock.
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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