Zacks Investment Research lowered shares of TIER REIT (NYSE:TIER) from a buy rating to a hold rating in a research note released on Wednesday.
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. “
A number of other brokerages have also recently issued reports on TIER. JMP Securities upped their price objective on shares of TIER REIT from $25.00 to $27.00 and gave the stock a market outperform rating in a report on Wednesday, August 8th. TheStreet upgraded shares of TIER REIT from a d+ rating to a c rating in a report on Monday, July 23rd. Finally, Robert W. Baird upped their price objective on shares of TIER REIT from $25.00 to $27.00 and gave the stock an outperform rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. TIER REIT presently has an average rating of Buy and an average target price of $24.60.
NYSE TIER opened at $23.02 on Wednesday. TIER REIT has a 1-year low of $17.04 and a 1-year high of $24.98. The firm has a market capitalization of $1.27 billion, a PE ratio of 14.66 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. TIER REIT had a net margin of 5.92% and a return on equity of 1.79%. The business had revenue of $54.83 million for the quarter, compared to the consensus estimate of $53.90 million. Research analysts predict that TIER REIT will post 1.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, December 14th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, December 13th. TIER REIT’s dividend payout ratio is presently 45.86%.
Large investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors bought a new stake in TIER REIT in the third quarter worth $108,000. First Trust Advisors LP bought a new stake in TIER REIT during the third quarter valued at about $218,000. Alpha Cubed Investments LLC bought a new stake in TIER REIT during the second quarter valued at about $217,000. Paloma Partners Management Co bought a new stake in TIER REIT during the second quarter valued at about $242,000. Finally, Private Advisory Group LLC bought a new stake in TIER REIT during the second quarter valued at about $250,000. Hedge funds and other institutional investors own 65.00% of the company’s stock.
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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