Pensionfund Sabic lessened its position in shares of InfraREIT, Inc. (NYSE:HIFR) by 53.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,720 shares of the real estate investment trust’s stock after selling 18,000 shares during the period. Pensionfund Sabic’s holdings in InfraREIT were worth $352,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new position in shares of InfraREIT in the 2nd quarter valued at $206,000. Advisors Asset Management Inc. boosted its holdings in shares of InfraREIT by 35.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 15,574 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 4,077 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of 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. Voya Investment Management LLC boosted its holdings in shares of 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. Finally, Acadian Asset Management LLC boosted its holdings in shares of InfraREIT by 310.3% in the 2nd quarter. Acadian Asset Management LLC now owns 19,643 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 14,856 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
Several brokerages have recently issued reports on HIFR. Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, July 26th. BidaskClub downgraded shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of InfraREIT in a research report on Wednesday, August 9th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $24.00 price target on shares of InfraREIT in a research report on Saturday, September 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.67.
Shares of InfraREIT, Inc. (HIFR) traded up 0.93% during trading on Friday, reaching $22.71. 52,584 shares of the company’s stock were exchanged. The stock has a market capitalization of $994.20 million, a PE ratio of 19.10 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, Inc. has a 52 week low of $14.59 and a 52 week high of $23.22.
InfraREIT (NYSE:HIFR) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.12). The business had revenue of $40.42 million for the quarter. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. On average, analysts forecast that InfraREIT, Inc. will post $1.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Investors of record on Friday, September 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Thursday, September 28th. InfraREIT’s dividend payout ratio is 83.33%.
In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $21.73, for a total value of $1,086,500.00. Following the transaction, the insider now owns 4,777,358 shares of the company’s stock, valued at $103,811,989.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.43, for a total value of $1,796,373.84. Following the completion of the transaction, the insider now directly owns 4,298,306 shares in the company, valued at approximately $96,411,003.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 529,052 shares of company stock worth $11,644,564. 28.00% of the stock is owned by company insiders.
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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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