InfraREIT (HIFR) Cut to “Market Perform” at Wolfe Research

Wolfe Research lowered shares of InfraREIT (NYSE:HIFR) from an outperform rating to a market perform rating in a research report report published on Monday, December 18th, The Fly reports.

A number of other analysts also recently commented on the company. BidaskClub upgraded InfraREIT from a buy rating to a strong-buy rating in a research report on Thursday, August 24th. Zacks Investment Research downgraded InfraREIT from a buy rating to a hold rating in a research report on Monday, September 25th. Finally, Evercore ISI reiterated an outperform rating and set a $24.00 target price on shares of InfraREIT in a research report on Saturday, September 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $23.67.

InfraREIT (NYSE:HIFR) traded down $0.46 during trading hours on Monday, hitting $17.85. The stock had a trading volume of 186,745 shares, compared to its average volume of 209,756. InfraREIT has a 1-year low of $16.00 and a 1-year high of $23.22. The firm has a market capitalization of $1,080.00 and a price-to-earnings ratio of 15.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.25 and a current ratio of 0.25.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Friday, December 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.60%. InfraREIT’s dividend payout ratio (DPR) is currently 86.21%.

Several hedge funds have recently bought and sold shares of the company. Reaves W H & Co. Inc. purchased a new position in InfraREIT in the third quarter valued at about $27,671,000. LSV Asset Management purchased a new position in InfraREIT in the second quarter valued at about $11,079,000. FMR LLC boosted its holdings in InfraREIT by 619.8% in the second quarter. FMR LLC now owns 416,693 shares of the real estate investment trust’s stock valued at $7,980,000 after purchasing an additional 358,800 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in InfraREIT by 52.8% in the third quarter. Neuberger Berman Group LLC now owns 925,913 shares of the real estate investment trust’s stock valued at $20,713,000 after purchasing an additional 320,131 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in InfraREIT by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 946,440 shares of the real estate investment trust’s stock valued at $21,371,000 after purchasing an additional 221,025 shares during the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.

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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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