Pensionfund DSM Netherlands cut its holdings in shares of InfraREIT, Inc. (NYSE:HIFR) by 48.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,180 shares of the real estate investment trust’s stock after selling 42,000 shares during the quarter. Pensionfund DSM Netherlands owned about 0.10% of InfraREIT worth $1,011,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Virginia Retirement Systems ET AL grew its holdings in InfraREIT by 4.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 26,500 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 1,200 shares in the last quarter. American International Group Inc. grew its holdings in InfraREIT by 7.1% in the 1st quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 1,623 shares in the last quarter. Voya Investment Management LLC grew its holdings in InfraREIT by 14.1% in the 2nd quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock valued at $363,000 after buying an additional 2,338 shares in the last quarter. Bessemer Group Inc. grew its holdings in InfraREIT by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 75,200 shares of the real estate investment trust’s stock valued at $1,440,000 after buying an additional 2,600 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in InfraREIT by 22.7% in the 2nd quarter. Tudor Investment Corp ET AL now owns 16,128 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 2,984 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
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Several analysts have recently issued reports on HIFR shares. BidaskClub lowered InfraREIT from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Zacks Investment Research raised InfraREIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Evercore ISI reissued an “outperform” rating and set a $24.00 target price on shares of InfraREIT in a report on Saturday, September 30th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $22.00 target price on shares of InfraREIT in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.67.
In other news, major shareholder Insurance & Annuity A. Teachers sold 54,964 shares of InfraREIT stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $21.11, for a total transaction of $1,160,290.04. Following the completion of the sale, the insider now owns 4,722,394 shares of the company’s stock, valued at $99,689,737.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of InfraREIT stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $22.35, for a total transaction of $983,400.00. Following the sale, the insider now directly owns 4,378,394 shares of the company’s stock, valued at approximately $97,857,105.90. The disclosure for this sale can be found here. Insiders have sold 529,052 shares of company stock valued at $11,644,564 in the last ninety days. Insiders own 28.00% of the company’s stock.
Shares of InfraREIT, Inc. (HIFR) traded up 1.29% during mid-day trading on Friday, hitting $22.79. The company had a trading volume of 41,959 shares. InfraREIT, Inc. has a one year low of $14.59 and a one year high of $23.22. The company has a market capitalization of $997.70 million, a PE ratio of 19.17 and a beta of 0.49. The company’s 50-day moving average is $22.53 and its 200 day moving average is $20.64.
InfraREIT (NYSE:HIFR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.12). The firm had revenue of $40.42 million during the quarter. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. On average, equities research analysts forecast that InfraREIT, Inc. will post $1.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Friday, September 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, September 28th. InfraREIT’s dividend payout ratio is presently 83.33%.
InfraREIT Company Profile
InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen.
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