TIER REIT Inc (TIER) Rating Lowered to Hold at Zacks Investment Research
TIER REIT Inc (OTCMKTS:TIER) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “
A number of other research firms have also recently issued reports on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th. BMO Capital Markets set a $20.00 price objective on TIER REIT and gave the company a “buy” rating in a research report on Thursday, May 11th.
Shares of TIER REIT (OTCMKTS TIER) opened at 18.38 on Friday. The company’s 50-day moving average is $18.26 and its 200 day moving average is $17.63. The firm has a market capitalization of $879.35 million and a PE ratio of 9.36. TIER REIT has a 52-week low of $14.06 and a 52-week high of $18.95.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $54.55 million for the quarter, compared to analysts’ expectations of $52.39 million. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. Equities analysts expect that TIER REIT will post $2.09 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in TIER REIT by 7.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 482 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in TIER REIT during the first quarter worth $135,000. Arete Wealth Advisors LLC increased its stake in TIER REIT by 5.6% in the first quarter. Arete Wealth Advisors LLC now owns 11,431 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 604 shares during the last quarter. LSV Asset Management purchased a new stake in TIER REIT during the first quarter worth $199,000. Finally, Clinton Group Inc. purchased a new stake in TIER REIT during the first quarter worth $210,000.
About TIER REIT
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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