Zacks Investment Research Lowers TIER REIT Inc (TIER) to Hold
Zacks Investment Research cut shares of TIER REIT Inc (OTCMKTS:TIER) from a buy rating to a hold rating in a report released on Saturday morning.
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. “
Separately, TheStreet raised shares of TIER REIT from a d+ rating to a c rating in a research report on Monday, June 5th.
TIER REIT (OTCMKTS:TIER) opened at 18.60 on Friday. The firm has a market capitalization of $889.88 million and a P/E ratio of 9.47. TIER REIT has a 1-year low of $14.06 and a 1-year high of $18.95. The stock’s 50 day moving average is $18.30 and its 200-day moving average is $17.63.
TIER REIT (OTCMKTS:TIER) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $54.55 million during the quarter, compared to the consensus estimate of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. Analysts forecast that TIER REIT will post $2.24 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Thursday, September 14th.
A number of institutional investors have recently added to or reduced their stakes in TIER. Teachers Advisors LLC boosted its holdings in TIER REIT by 1.1% during the fourth quarter. Teachers Advisors LLC now owns 89,489 shares of the real estate investment trust’s stock worth $1,556,000 after purchasing an additional 1,016 shares during the last quarter. Acadian Asset Management LLC purchased a new position in TIER REIT during the first quarter worth about $135,000. Russell Investments Group Ltd. boosted its holdings in TIER REIT by 154.1% during the first quarter. Russell Investments Group Ltd. now owns 15,660 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 9,497 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in TIER REIT by 0.3% during the first quarter. Wells Fargo & Company MN now owns 66,198 shares of the real estate investment trust’s stock worth $1,149,000 after purchasing an additional 180 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in TIER REIT by 4.1% during the first quarter. Great West Life Assurance Co. Can now owns 30,305 shares of the real estate investment trust’s stock worth $525,000 after purchasing an additional 1,202 shares during the last quarter.
TIER REIT Company Profile
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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