InfraREIT (HIFR) Downgraded by Zacks Investment Research

InfraREIT (NYSE:HIFR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

A number of other research analysts have also recently commented on the company. Royal Bank of Canada restated a “hold” rating and set a $18.00 price target on shares of InfraREIT in a research note on Thursday, January 11th. Wolfe Research cut InfraREIT from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Finally, BidaskClub cut InfraREIT from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.33.

InfraREIT (NYSE:HIFR) traded up $0.23 during trading hours on Thursday, reaching $19.21. The company’s stock had a trading volume of 206,969 shares, compared to its average volume of 195,999. 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 one year low of $16.00 and a one year high of $23.22. The firm has a market capitalization of $818.13, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.87 and a beta of 0.43.

InfraREIT (NYSE:HIFR) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). InfraREIT had a return on equity of 6.46% and a net margin of 27.06%. equities analysts predict that InfraREIT will post 1.22 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of InfraREIT by 7.0% during the second quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock worth $55,909,000 after acquiring an additional 190,249 shares during the period. Reaves W H & Co. Inc. purchased a new stake in shares of InfraREIT during the third quarter worth $27,671,000. JPMorgan Chase & Co. increased its position in shares of InfraREIT by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 946,440 shares of the real estate investment trust’s stock worth $21,371,000 after acquiring an additional 221,025 shares during the period. Neuberger Berman Group LLC increased its position 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 acquiring an additional 320,131 shares during the period. Finally, State Street Corp increased its position in shares of InfraREIT by 10.8% during the second quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock worth $16,697,000 after acquiring an additional 84,696 shares during the period. 84.63% of the stock is currently owned by institutional investors and hedge funds.

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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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