BMO Capital Markets set a $21.00 target price on TIER REIT (NYSE:TIER) in a research report released on Monday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
A number of other brokerages have also recently issued reports on TIER. Cantor Fitzgerald began coverage on shares of TIER REIT in a research note on Saturday, December 30th. They issued an overweight rating and a $22.00 price objective for the company. Zacks Investment Research cut shares of TIER REIT from a buy rating to a sell rating in a research note on Wednesday, October 18th. Finally, BidaskClub cut shares of TIER REIT from a buy rating to a hold rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. TIER REIT presently has a consensus rating of Hold and an average target price of $21.33.
Shares of TIER REIT (NYSE:TIER) opened at $18.34 on Monday. The stock has a market cap of $848.33, a price-to-earnings ratio of 10.54 and a beta of 0.76. TIER REIT has a 52 week low of $15.96 and a 52 week high of $20.72.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.93%. TIER REIT’s payout ratio is 41.38%.
In related news, insider William J. Reister sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.62, for a total transaction of $147,150.00. Following the completion of the transaction, the insider now directly owns 82,736 shares of the company’s stock, valued at $1,623,280.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group purchased a new position in TIER REIT during the third quarter valued at $121,000. Advisors Asset Management Inc. purchased a new position in TIER REIT during the third quarter valued at $130,000. Sei Investments Co. grew its stake in TIER REIT by 96.1% during the third quarter. Sei Investments Co. now owns 6,871 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 3,367 shares in the last quarter. SG Americas Securities LLC purchased a new position in TIER REIT during the third quarter valued at $179,000. Finally, Centaurus Financial Inc. purchased a new position in TIER REIT during the fourth quarter valued at $202,000. 58.54% of the stock is owned by institutional investors.
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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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