PNC Financial Services Group Inc. lifted its stake in InfraREIT, Inc. (NYSE:HIFR) by 77,669.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,553 shares of the real estate investment trust’s stock after purchasing an additional 22,524 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of InfraREIT worth $433,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of InfraREIT in the second quarter valued at approximately $206,000. Advisors Asset Management Inc. increased its holdings in shares of InfraREIT by 35.5% in the second quarter. Advisors Asset Management Inc. now owns 15,574 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 4,077 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of InfraREIT by 310.3% in the second quarter. Acadian Asset Management LLC now owns 19,643 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 14,856 shares during the last quarter. Sei Investments Co. increased its holdings in shares of InfraREIT by 1,010.6% in the second quarter. Sei Investments Co. now owns 22,878 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 20,818 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of InfraREIT in the first quarter valued at approximately $418,000. 84.08% of the stock is owned by hedge funds and other institutional investors.
In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the business’s 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 transaction, the insider now directly owns 4,298,306 shares in the company, valued at $96,411,003.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $22.35, for a total transaction of $983,400.00. Following the completion of the transaction, the insider now directly owns 4,378,394 shares of the company’s stock, valued at $97,857,105.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 529,052 shares of company stock worth $11,644,564. Company insiders own 28.00% of the company’s stock.
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InfraREIT, Inc. (NYSE:HIFR) opened at 22.50 on Friday. InfraREIT, Inc. has a 52-week low of $14.59 and a 52-week high of $23.22. The stock has a market capitalization of $985.01 million, a price-to-earnings ratio of 18.92 and a beta of 0.49. The stock’s 50 day moving average price is $22.53 and its 200 day moving average price is $20.64.
InfraREIT (NYSE:HIFR) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.12). InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The business had revenue of $40.42 million for the quarter. On average, analysts forecast that InfraREIT, Inc. will post $1.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Friday, September 29th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 4.44%. InfraREIT’s dividend payout ratio (DPR) is currently 83.33%.
Several equities research analysts recently commented on HIFR shares. Zacks Investment Research raised InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, July 26th. BidaskClub raised InfraREIT from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada reissued a “hold” rating and set a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Finally, Evercore ISI reissued an “outperform” rating and set a $24.00 target price on shares of InfraREIT in a research note on Saturday, September 30th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.67.
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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