TIER REIT (NYSE:TIER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

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. “

TIER has been the subject of a number of other reports. Cantor Fitzgerald started coverage on TIER REIT in a research note on Saturday, December 30th. They issued an “overweight” rating and a $22.00 target price for the company. BidaskClub cut TIER REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $20.00 price objective on shares of TIER REIT in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.00.

TIER REIT (NYSE:TIER) traded down $0.47 during mid-day trading on Friday, hitting $19.66. The stock had a trading volume of 227,300 shares, compared to its average volume of 174,433. The company has a market capitalization of $963.08, a P/E ratio of 10.80 and a beta of 0.94. TIER REIT has a 12 month low of $15.96 and a 12 month high of $20.72.

In other TIER REIT news, insider William J. Reister sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total value of $147,150.00. Following the sale, the insider now owns 82,736 shares of the company’s stock, valued at approximately $1,623,280.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of TIER REIT by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock valued at $108,467,000 after purchasing an additional 32,897 shares in the last quarter. State Street Corp boosted its holdings in shares of TIER REIT by 2.4% during the 2nd quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock valued at $29,634,000 after acquiring an additional 37,056 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of TIER REIT by 24.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,108,143 shares of the real estate investment trust’s stock valued at $21,388,000 after acquiring an additional 214,644 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of TIER REIT by 1.5% during the 2nd quarter. Northern Trust Corp now owns 795,118 shares of the real estate investment trust’s stock valued at $14,694,000 after acquiring an additional 11,550 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in TIER REIT by 2.3% during the 2nd quarter. Hood River Capital Management LLC now owns 615,070 shares of the real estate investment trust’s stock worth $11,366,000 after purchasing an additional 13,935 shares during the last quarter. 57.50% of the stock is currently owned by hedge funds and other institutional investors.

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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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