Zacks Investment Research downgraded shares of TIER REIT Inc (OTCMKTS:TIER) from a buy rating to a sell rating in a research note issued to investors on Wednesday, October 18th.
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. “
Separately, BidaskClub upgraded shares of TIER REIT from a hold rating to a buy rating in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $20.67.
Shares of TIER REIT (OTCMKTS TIER) opened at 19.21 on Wednesday. The stock has a market capitalization of $919.06 million and a PE ratio of 9.78. TIER REIT has a 12 month low of $14.06 and a 12 month high of $20.00. The stock’s 50 day moving average is $19.20 and its 200 day moving average is $18.04.
TIER REIT (OTCMKTS:TIER) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $54.55 million for the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. Analysts anticipate that TIER REIT will post $2.14 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.75%.
Several large investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in TIER REIT by 0.3% in the second quarter. Great West Life Assurance Co. Can now owns 30,381 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 76 shares during the period. Wells Fargo & Company MN boosted its holdings in TIER REIT by 0.3% in the first quarter. Wells Fargo & Company MN now owns 66,198 shares of the real estate investment trust’s stock worth $1,149,000 after purchasing an additional 180 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in TIER REIT by 7.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 482 shares during the period. Russell Investments Group Ltd. boosted its holdings in TIER REIT by 3.5% in the second quarter. Russell Investments Group Ltd. now owns 16,207 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 547 shares during the period. Finally, First Allied Advisory Services Inc. boosted its holdings in TIER REIT by 6.3% in the second quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 695 shares during the period.
TIER REIT Company Profile
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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