Russell Investments Group Ltd. Buys 547 Shares of TIER REIT Inc (TIER)
Russell Investments Group Ltd. increased its stake in shares of TIER REIT Inc (OTCMKTS:TIER) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,207 shares of the real estate investment trust’s stock after purchasing an additional 547 shares during the quarter. Russell Investments Group Ltd.’s holdings in TIER REIT were worth $300,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TIER. Teachers Advisors LLC lifted its holdings in shares of 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 period. Wells Fargo & Company MN lifted its holdings in shares of 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 period. Great West Life Assurance Co. Can lifted its holdings in shares of 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 period. First Trust Advisors LP lifted its holdings in shares of TIER REIT by 5.0% during the first quarter. First Trust Advisors LP now owns 75,082 shares of the real estate investment trust’s stock worth $1,303,000 after purchasing an additional 3,549 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of TIER REIT by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 373,407 shares of the real estate investment trust’s stock worth $6,483,000 after purchasing an additional 20,496 shares during the period.
Several brokerages recently weighed in on TIER. Zacks Investment Research downgraded TIER REIT from a “buy” rating to a “hold” rating in a report on Saturday. TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th.
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TIER REIT (OTCMKTS:TIER) last released 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. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. The company had revenue of $54.55 million during the quarter, compared to analysts’ expectations of $52.39 million.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.18 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.85%.
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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