Century Capital Management LLC Purchases Shares of 58,184 InfraREIT, Inc. (HIFR)
Century Capital Management LLC purchased a new position in shares of InfraREIT, Inc. (NYSE:HIFR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,184 shares of the real estate investment trust’s stock, valued at approximately $1,114,000. Century Capital Management LLC owned 0.13% of InfraREIT at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of HIFR. Principal Financial Group Inc. purchased a new stake in InfraREIT during the 2nd quarter worth about $206,000. Advisors Asset Management Inc. increased its holdings in InfraREIT by 218.3% during the 1st quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 7,885 shares during the period. Clinton Group Inc. increased its holdings in InfraREIT by 7.0% during the 1st quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 845 shares during the period. Acadian Asset Management LLC increased its holdings in InfraREIT by 310.3% during the 2nd quarter. Acadian Asset Management LLC now owns 19,643 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 14,856 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in InfraREIT during the 1st quarter worth about $418,000. Institutional investors own 83.78% of the company’s stock.
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InfraREIT, Inc. (HIFR) opened at 22.44 on Tuesday. The stock has a market cap of $982.38 million, a P/E ratio of 18.87 and a beta of 0.49. The stock has a 50 day moving average price of $21.81 and a 200-day moving average price of $19.40. InfraREIT, Inc. has a 12-month low of $14.59 and a 12-month high of $23.12.
InfraREIT (NYSE:HIFR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.12. The firm had revenue of $40.42 million during the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. On average, equities analysts expect that InfraREIT, Inc. will post $1.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, September 28th. InfraREIT’s dividend payout ratio is currently 83.33%.
Several equities research analysts have weighed in on the company. BidaskClub downgraded InfraREIT from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 price target on shares of InfraREIT in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $23.50.
In other news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the completion of the transaction, the insider now directly owns 5,398,153 shares of the company’s stock, valued at $106,451,577.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 42,735 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $22.49, for a total value of $961,110.15. Following the transaction, the insider now directly owns 4,827,358 shares of the company’s stock, valued at $108,567,281.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,277,929 shares of company stock valued at $27,774,665. 28.00% of the stock is owned by corporate insiders.
InfraREIT Company Profile
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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