InfraREIT (HIFR) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of InfraREIT (NYSE:HIFR) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

Several other research analysts have also issued reports on the company. Wolfe Research lowered InfraREIT from an outperform rating to a market perform rating in a research note on Monday, December 18th. BidaskClub lowered InfraREIT from a sell rating to a strong sell rating in a research note on Saturday, November 11th. Finally, Evercore ISI reiterated an outperform rating and set a $24.00 price objective on shares of InfraREIT in a research note on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $23.67.

InfraREIT (NYSE:HIFR) opened at $18.18 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.90. InfraREIT has a 12 month low of $16.00 and a 12 month high of $23.22.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Thursday, December 28th. InfraREIT’s payout ratio is presently 86.21%.

Several hedge funds have recently made changes to their positions in the company. Aurora Investment Counsel bought a new stake in shares of InfraREIT during the fourth quarter worth $1,802,000. Pensionfund Sabic grew its holdings in shares of InfraREIT by 57.3% during the fourth quarter. Pensionfund Sabic now owns 24,720 shares of the real estate investment trust’s stock worth $459,000 after purchasing an additional 9,000 shares during the last quarter. Pensionfund DSM Netherlands grew its holdings in shares of InfraREIT by 37.6% during the fourth quarter. Pensionfund DSM Netherlands now owns 62,180 shares of the real estate investment trust’s stock worth $1,155,000 after purchasing an additional 17,000 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of InfraREIT by 18.5% during the third quarter. GSA Capital Partners LLP now owns 50,164 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 7,817 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of InfraREIT by 52.8% during the third quarter. Neuberger Berman Group LLC now owns 925,913 shares of the real estate investment trust’s stock worth $20,713,000 after purchasing an additional 320,131 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

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About InfraREIT

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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