TIER REIT Inc (TIER) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of TIER REIT Inc (OTCMKTS:TIER) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $20.00 price target on the real estate investment trust’s stock.
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. “
Several other analysts have also issued reports on the stock. TheStreet upgraded shares of 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 target on shares of TIER REIT and gave the stock a buy rating in a research report on Thursday, May 11th.
TIER REIT (TIER) opened at 18.60 on Thursday. TIER REIT has a 1-year low of $14.06 and a 1-year high of $18.95. The stock has a 50 day moving average of $18.22 and a 200-day moving average of $17.63. The company has a market cap of $889.88 million and a PE ratio of 9.47.
TIER REIT (OTCMKTS:TIER) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The business had revenue of $54.55 million for the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. On average, equities research analysts predict that TIER REIT will post $2.09 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.87%. The ex-dividend date is Thursday, September 14th.
A number of large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its stake in TIER REIT by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 30,381 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 76 shares during the last quarter. Wells Fargo & Company MN lifted its stake in TIER REIT by 0.3% in the 1st quarter. Wells Fargo & Company MN now owns 66,198 shares of the real estate investment trust’s stock valued at $1,149,000 after purchasing an additional 180 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in TIER REIT by 7.2% in the 2nd 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 purchasing an additional 482 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in TIER REIT by 3.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,207 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 547 shares during the last quarter. Finally, First Allied Advisory Services Inc. lifted its stake in TIER REIT by 6.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock valued at $215,000 after purchasing an additional 695 shares during the last quarter.
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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