TIER REIT Inc (TIER) Upgraded to Buy at Zacks Investment Research
TIER REIT Inc (OTCMKTS:TIER) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $21.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.93% from the company’s current price.
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 analysts have also recently issued reports on the stock. TheStreet upgraded shares of TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th. BMO Capital Markets set a $20.00 target price on shares of TIER REIT and gave the company a “buy” rating in a research note on Thursday, May 11th.
Shares of TIER REIT (OTCMKTS:TIER) traded up 0.72% during midday trading on Tuesday, hitting $18.09. The stock had a trading volume of 32,606 shares. The company has a market cap of $865.48 million and a P/E ratio of 9.21. TIER REIT has a one year low of $14.06 and a one year high of $18.95. The stock has a 50 day moving average of $18.26 and a 200-day moving average of $17.63.
TIER REIT (OTCMKTS:TIER) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. The business had revenue of $54.55 million for the quarter, compared to the consensus estimate of $52.39 million. Analysts forecast that TIER REIT will post $2.09 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of 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 valued at $133,000 after buying an additional 482 shares during the period. Acadian Asset Management LLC bought a new position in shares of TIER REIT during the first quarter worth $135,000. LSV Asset Management bought a new position in shares of TIER REIT during the first quarter worth $199,000. First Allied Advisory Services Inc. raised its position in shares of TIER REIT by 6.3% in the second quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 695 shares during the last quarter. Finally, Clinton Group Inc. bought a new position in shares of 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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