BidaskClub downgraded shares of InfraREIT, Inc. (NYSE:HIFR) from a buy rating to a hold rating in a report published on Friday morning.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of InfraREIT from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research report on Wednesday, July 26th. Royal Bank Of Canada restated a hold rating and issued a $22.00 price objective on shares of InfraREIT in a research report on Wednesday, August 9th. Finally, Evercore ISI restated an outperform rating and issued a $24.00 price objective on shares of InfraREIT in a research report on Saturday, September 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. InfraREIT has an average rating of Hold and a consensus target price of $23.67.

Shares of InfraREIT (HIFR) opened at 22.15 on Friday. InfraREIT has a one year low of $14.59 and a one year high of $23.12. The firm’s 50-day moving average price is $22.34 and its 200-day moving average price is $22.34. The firm has a market capitalization of $969.68 million, a P/E ratio of 18.63 and a beta of 0.49.

InfraREIT (NYSE:HIFR) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12). InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The firm had revenue of $40.42 million during the quarter. On average, equities analysts forecast that InfraREIT will post $1.28 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Thursday, September 28th. InfraREIT’s dividend payout ratio is currently 83.33%.

In related news, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $19.79, for a total transaction of $989,500.00. Following the transaction, the insider now owns 5,526,235 shares in the company, valued at $109,364,190.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the transaction, the insider now owns 5,463,489 shares in the company, valued at approximately $107,412,193.74. The disclosure for this sale can be found here. Insiders have sold 1,277,929 shares of company stock worth $27,774,665 in the last quarter. 28.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its position in shares of InfraREIT by 1.3% during the first quarter. Meeder Asset Management Inc. now owns 24,752 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 325 shares during the period. Clinton Group Inc. grew its holdings in InfraREIT by 7.0% in the first 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. Virginia Retirement Systems ET AL grew its holdings in InfraREIT by 4.7% in the second quarter. Virginia Retirement Systems ET AL now owns 26,500 shares of the real estate investment trust’s stock worth $507,000 after purchasing an additional 1,200 shares during the period. American International Group Inc. grew its holdings in InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 1,623 shares during the period. Finally, Voya Investment Management LLC grew its holdings in InfraREIT by 14.1% in the second quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 2,338 shares during the period. Institutional investors own 83.78% of the company’s stock.

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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