TIER REIT (TIER) PT Set at $22.00 by Cantor Fitzgerald
Cantor Fitzgerald set a $22.00 price objective on TIER REIT (NYSE:TIER) in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
“Third & Shoal Pre-leasing at 90% Implies Strength in Austin Office Market. Yesterday, TIER announced pre-leasing at Third & Shoal development in Austin CBD, bringing pre-leased space to 90% (delivery date is 3Q18). Prior to this announcement, the asset was 67% pre-leased with Facebook being the major tenant. We model a development yield of 8.9% and an exit cap rate of 5.5%.”,” the firm’s analyst wrote.
Other equities analysts have also recently issued reports about the stock. BMO Capital Markets reaffirmed a buy rating and issued a $20.00 target price on shares of TIER REIT in a report on Thursday, November 9th. BidaskClub raised shares of TIER REIT from a hold rating to a buy rating in a report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of TIER REIT from a hold rating to a buy rating and set a $21.00 target price on the stock in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. TIER REIT presently has a consensus rating of Hold and an average target price of $21.00.
TIER REIT (NYSE:TIER) last announced its earnings results on Wednesday, November 8th. The real estate investment trust reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.53). TIER REIT had a net margin of 40.68% and a return on equity of 12.86%. sell-side analysts forecast that TIER REIT will post 1.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.69%. TIER REIT’s dividend payout ratio (DPR) is 39.56%.
In related news, insider William J. Reister sold 7,500 shares of TIER REIT stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.62, for a total value of $147,150.00. Following the transaction, the insider now directly owns 82,736 shares in the company, valued at approximately $1,623,280.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Schroder Investment Management Group purchased a new position in TIER REIT in the 3rd quarter valued at $121,000. Advisors Asset Management Inc. purchased a new position in TIER REIT in the 3rd quarter valued at $130,000. Sei Investments Co. grew its position in TIER REIT by 96.1% in the 3rd quarter. Sei Investments Co. now owns 6,871 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 3,367 shares during the last quarter. SG Americas Securities LLC purchased a new position in TIER REIT in the 3rd quarter valued at $179,000. Finally, First Allied Advisory Services Inc. grew its position in TIER REIT by 6.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 57.50% of the company’s stock.
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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