Brokerages expect TIER REIT Inc (NYSE:TIER) to announce $0.37 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for TIER REIT’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.37. TIER REIT reported earnings per share of $0.34 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.
On average, analysts expect that TIER REIT will report full-year earnings of $1.57 per share for the current fiscal year, with EPS estimates ranging from $1.56 to $1.58. For the next year, analysts anticipate that the company will report 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 research analysts that that provide coverage for TIER REIT.
TIER REIT (NYSE:TIER) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.53). The business had revenue of $53.99 million during the quarter, compared to analysts’ expectations of $52.00 million. TIER REIT had a negative net margin of 8.33% and a negative return on equity of 2.59%.
Several brokerages have recently commented on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. upgraded TIER REIT from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 31st. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, August 1st. Robert W. Baird raised their price target on TIER REIT from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, JMP Securities raised 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.60.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in TIER REIT by 5.4% during the 2nd quarter. BlackRock Inc. now owns 4,444,589 shares of the real estate investment trust’s stock worth $105,694,000 after acquiring an additional 227,688 shares during the last quarter. Cbre Clarion Securities LLC grew its position in TIER REIT by 1,432.8% during the 2nd quarter. Cbre Clarion Securities LLC now owns 1,545,102 shares of the real estate investment trust’s stock worth $36,743,000 after acquiring an additional 1,444,302 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in TIER REIT by 11.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,405,611 shares of the real estate investment trust’s stock worth $25,976,000 after acquiring an additional 141,558 shares during the last quarter. Schroder Investment Management Group grew its position in TIER REIT by 100.6% during the 1st quarter. Schroder Investment Management Group now owns 1,208,359 shares of the real estate investment trust’s stock worth $22,331,000 after acquiring an additional 606,010 shares during the last quarter. Finally, Private Management Group Inc. grew its position in TIER REIT by 0.9% during the 1st quarter. Private Management Group Inc. now owns 1,117,892 shares of the real estate investment trust’s stock worth $20,659,000 after acquiring an additional 9,700 shares during the last quarter. Institutional investors and hedge funds own 64.95% of the company’s stock.
Shares of TIER REIT stock traded down $0.19 during trading on Monday, hitting $24.30. 246,683 shares of the stock traded hands, compared to its average volume of 279,514. The firm has a market capitalization of $1.24 billion, a PE ratio of 15.48 and a beta of 0.75. TIER REIT has a 52 week low of $17.04 and a 52 week high of $24.98.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.96%. TIER REIT’s payout ratio is 45.86%.
About TIER REIT
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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