Zacks Investment Research upgraded shares of InfraREIT (NYSE:HIFR) from a 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. “
Other equities analysts have also issued research reports about the company. Royal Bank of Canada reissued a hold rating and issued a $18.00 target price on shares of InfraREIT in a research report on Thursday, January 11th. BidaskClub lowered InfraREIT from a hold rating to a sell rating in a research report on Wednesday, November 1st. Finally, Wolfe Research lowered InfraREIT from an outperform rating to a market perform rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $22.33.
Shares of InfraREIT (HIFR) remained flat at $$18.72 during trading hours on Wednesday. The stock had a trading volume of 10,174 shares, compared to its average volume of 204,030. InfraREIT has a twelve month low of $16.00 and a twelve month high of $23.22. 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 firm has a market cap of $811.99, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.85 and a beta of 0.44.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Friday, December 29th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, December 28th. InfraREIT’s dividend payout ratio (DPR) is 86.21%.
A number of large investors have recently modified their holdings of HIFR. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of InfraREIT during the 3rd quarter valued at about $122,000. Great West Life Assurance Co. Can increased its position in shares of InfraREIT by 89.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,878 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,778 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of InfraREIT during the 3rd quarter valued at about $174,000. Forsta AP Fonden purchased a new stake in shares of InfraREIT during the 4th quarter valued at about $190,000. Finally, First Trust Advisors LP purchased a new stake in shares of InfraREIT during the 3rd quarter valued at about $231,000. 84.35% of the stock is owned by institutional investors and hedge funds.
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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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