TIER REIT (NYSE:TIER) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share guidance of $1.53-1.56 for the period.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded TIER REIT from a hold rating to a buy rating and set a $26.00 price objective for the company in a report on Thursday, October 18th. Robert W. Baird raised their price objective on TIER REIT from $25.00 to $27.00 and gave the company an outperform rating in a report on Thursday, August 9th. JMP Securities raised their price objective on TIER REIT from $25.00 to $27.00 and gave the company a market outperform rating in a report on Wednesday, August 8th. Finally, TheStreet upgraded TIER REIT from a d+ rating to a c rating in a report on Monday, July 23rd. Seven research analysts have rated the stock with a buy rating, TIER REIT currently has a consensus rating of Buy and a consensus price target of $24.60.
TIER REIT stock traded up $0.02 during midday trading on Wednesday, reaching $23.16. 1,648 shares of the company’s stock were exchanged, compared to its average volume of 257,993. TIER REIT has a 52 week low of $17.04 and a 52 week high of $24.98. The stock has a market capitalization of $1.11 billion, a P/E ratio of 14.74 and a beta of 0.87.
TIER REIT (NYSE:TIER) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. TIER REIT had a negative return on equity of 2.59% and a negative net margin of 8.33%. The business had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $53.90 million. On average, sell-side analysts anticipate that TIER REIT will post 1.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, December 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, December 13th. TIER REIT’s payout ratio is currently 45.86%.
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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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