OxFORD Asset Management LLP purchased a new position in shares of TIER REIT Inc (NYSE:TIER) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 51,414 shares of the real estate investment trust’s stock, valued at approximately $990,000. OxFORD Asset Management LLP owned about 0.11% of TIER REIT at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in TIER. Teachers Advisors LLC increased its stake in TIER REIT by 377.7% during the 2nd quarter. Teachers Advisors LLC now owns 455,516 shares of the real estate investment trust’s stock worth $8,418,000 after acquiring an additional 360,165 shares during the period. Schwab Charles Investment Management Inc. increased its stake in TIER REIT by 41.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after acquiring an additional 260,977 shares during the period. Deprince Race & Zollo Inc. bought a new position in TIER REIT during the 3rd quarter worth $4,147,000. Wells Fargo & Company MN increased its stake in TIER REIT by 277.3% during the 3rd quarter. Wells Fargo & Company MN now owns 259,356 shares of the real estate investment trust’s stock worth $5,006,000 after acquiring an additional 190,613 shares during the period. Finally, Private Management Group Inc. increased its stake in TIER REIT by 19.5% during the 2nd quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock worth $20,994,000 after acquiring an additional 185,440 shares during the period. 57.50% of the stock is owned by institutional investors and hedge funds.
In other news, insider William J. Reister sold 7,500 shares of TIER REIT stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total value of $147,150.00. Following the transaction, the insider now owns 82,736 shares in the company, valued at approximately $1,623,280.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
Shares of TIER REIT Inc (TIER) traded up $0.07 on Friday, hitting $19.63. The stock had a trading volume of 151,709 shares, compared to its average volume of 194,319. TIER REIT Inc has a one year low of $15.96 and a one year high of $20.72. The company has a market cap of $935.81, a price-to-earnings ratio of 10.79 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.67%. TIER REIT’s payout ratio is 39.56%.
A number of equities analysts have commented on TIER shares. Zacks Investment Research lowered TIER REIT from a “buy” rating to a “hold” rating in a research note on Saturday, September 16th. BidaskClub upgraded TIER REIT from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price target on shares of TIER REIT in a research note on Thursday, November 9th. Finally, Cantor Fitzgerald began coverage on TIER REIT in a research note on Friday, December 22nd. They issued an “overweight” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.
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TIER REIT 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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