Zacks Investment Research lowered shares of InfraREIT, Inc. (NYSE:HIFR) from a hold rating to a strong sell rating in a report issued on Monday morning.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

Other equities analysts have also recently issued research reports about the company. BidaskClub cut 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 issued a $22.00 price objective on shares of InfraREIT in a 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 report on Saturday, September 30th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $23.67.

Shares of InfraREIT (NYSE HIFR) traded down $0.98 during midday trading on Monday, hitting $20.26. The stock had a trading volume of 382,100 shares, compared to its average volume of 189,622. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.25 and a quick ratio of 0.25. InfraREIT has a 12 month low of $16.00 and a 12 month high of $23.22.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Friday, September 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Thursday, September 28th. InfraREIT’s payout ratio is 86.21%.

In related news, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of InfraREIT stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $22.35, for a total transaction of $983,400.00. Following the completion of the transaction, the insider now owns 4,378,394 shares in the company, valued at $97,857,105.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of InfraREIT stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $22.43, for a total value of $1,796,373.84. Following the transaction, the insider now owns 4,298,306 shares of the company’s stock, valued at approximately $96,411,003.58. The disclosure for this sale can be found here. Insiders have sold 424,088 shares of company stock valued at $9,397,774 in the last quarter. 28.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in InfraREIT during the third quarter worth about $122,000. Great West Life Assurance Co. Can grew its holdings in InfraREIT by 89.6% during the third quarter. Great West Life Assurance Co. Can now owns 5,878 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 2,778 shares during the period. SG Americas Securities LLC bought a new position in InfraREIT during the third quarter worth about $174,000. Principal Financial Group Inc. acquired a new stake in InfraREIT during the second quarter worth approximately $206,000. Finally, First Trust Advisors LP acquired a new stake in InfraREIT during the third quarter worth approximately $231,000. Institutional investors and hedge funds own 84.81% 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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