Susquehanna International Group LLP Buys 15,266 Shares of TIER REIT Inc (TIER)
Susquehanna International Group LLP grew its stake in TIER REIT Inc (OTCMKTS:TIER) by 59.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,966 shares of the real estate investment trust’s stock after acquiring an additional 15,266 shares during the quarter. Susquehanna International Group LLP owned about 0.09% of TIER REIT worth $757,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in TIER REIT by 30.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 632,522 shares of the real estate investment trust’s stock worth $10,981,000 after buying an additional 149,375 shares during the period. Engine Capital Management LLC lifted its position in TIER REIT by 4,139.5% during the first quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock worth $15,733,000 after buying an additional 884,900 shares during the period. Legato Capital Management LLC purchased a new position in TIER REIT during the second quarter worth about $1,741,000. American Century Companies Inc. purchased a new position in TIER REIT during the second quarter worth about $816,000. Finally, Investment Centers of America Inc. purchased a new position in TIER REIT during the first quarter worth about $267,000.
A number of research firms have recently commented on TIER. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Tuesday, September 26th. BidaskClub upgraded TIER REIT from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Four investment analysts have rated the stock with a buy rating, TIER REIT presently has a consensus rating of “Buy” and an average price target of $20.67.
TIER REIT Inc (TIER) traded up 0.35% during trading on Friday, hitting $19.87. The stock had a trading volume of 18,592 shares. The firm has a market cap of $950.64 million and a price-to-earnings ratio of 10.12. The firm’s 50 day moving average is $18.86 and its 200 day moving average is $17.88. TIER REIT Inc has a 1-year low of $14.06 and a 1-year high of $20.00.
TIER REIT (OTCMKTS:TIER) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, analysts anticipate that TIER REIT Inc will post $2.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.64%.
TIER REIT 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.
Want to see what other hedge funds are holding TIER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TIER REIT Inc (OTCMKTS:TIER).
Receive News & Stock Ratings for TIER REIT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TIER REIT Inc and related stocks with our FREE daily email newsletter.