Wall Street analysts expect TIER REIT Inc (NYSE:TIER) to announce $0.37 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for TIER REIT’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.37. TIER REIT reported earnings of $0.34 per share in the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that TIER REIT will report full-year earnings of $1.55 per share for the current year, with EPS estimates ranging from $1.52 to $1.58. For the next fiscal year, analysts forecast that the business will post earnings of $1.55 per share, with EPS estimates ranging from $1.52 to $1.57. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for TIER REIT.
TIER REIT (NYSE:TIER) last released its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.53). The firm had revenue of $53.99 million for the quarter, compared to analyst estimates of $52.00 million. TIER REIT had a negative net margin of 8.33% and a negative return on equity of 2.59%.
A number of analysts have weighed in on TIER shares. JMP Securities boosted their price target on TIER REIT from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 8th. TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, July 23rd. Zacks Investment Research raised TIER REIT from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, August 1st. JPMorgan Chase & Co. raised TIER REIT from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 31st. Finally, ValuEngine raised TIER REIT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. TIER REIT presently has an average rating of “Buy” and an average target price of $24.60.
Shares of NYSE:TIER traded down $0.25 on Friday, reaching $23.53. The company had a trading volume of 2,250 shares, compared to its average volume of 292,074. TIER REIT has a twelve month low of $17.04 and a twelve month high of $24.98. The stock has a market capitalization of $1.21 billion, a P/E ratio of 15.15 and a beta of 0.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.06%. TIER REIT’s payout ratio is presently 45.86%.
Several institutional investors have recently bought and sold shares of TIER. Cbre Clarion Securities LLC increased its stake in shares of TIER REIT by 1,432.8% in the second quarter. Cbre Clarion Securities LLC now owns 1,545,102 shares of the real estate investment trust’s stock worth $36,743,000 after purchasing an additional 1,444,302 shares during the period. Victory Capital Management Inc. increased its stake in shares of TIER REIT by 961.4% in the second quarter. Victory Capital Management Inc. now owns 678,761 shares of the real estate investment trust’s stock worth $16,140,000 after purchasing an additional 614,811 shares during the period. Schroder Investment Management Group increased its stake in shares of TIER REIT by 100.6% in the first quarter. Schroder Investment Management Group now owns 1,208,359 shares of the real estate investment trust’s stock worth $22,331,000 after purchasing an additional 606,010 shares during the period. Renaissance Technologies LLC increased its stake in shares of TIER REIT by 66.6% in the second quarter. Renaissance Technologies LLC now owns 925,887 shares of the real estate investment trust’s stock worth $22,018,000 after purchasing an additional 370,087 shares during the period. Finally, Hood River Capital Management LLC increased its stake in shares of TIER REIT by 57.4% in the second quarter. Hood River Capital Management LLC now owns 788,409 shares of the real estate investment trust’s stock worth $18,748,000 after purchasing an additional 287,557 shares during the period. Institutional investors and hedge funds own 66.79% of the company’s stock.
TIER REIT Company Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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