TIER REIT (NYSE:TIER) received a $21.00 price target from equities research analysts at BMO Capital Markets in a research note issued to investors on Monday, February 12th. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target points to a potential upside of 10.24% from the stock’s current price.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of TIER REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of TIER REIT from a “buy” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, Cantor Fitzgerald began coverage on shares of TIER REIT in a research report on Friday, December 22nd. They set an “overweight” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. TIER REIT presently has a consensus rating of “Hold” and a consensus price target of $21.33.
TIER REIT (NYSE TIER) traded up $0.15 during mid-day trading on Monday, reaching $19.05. The company had a trading volume of 34,273 shares, compared to its average volume of 211,250. TIER REIT has a 12 month low of $15.96 and a 12 month high of $20.72. The firm has a market cap of $917.16, a PE ratio of 12.30 and a beta of 0.76.
In other TIER REIT news, insider William J. Reister sold 7,500 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.62, for a total value of $147,150.00. Following the completion of the transaction, the insider now owns 82,736 shares in the company, valued at $1,623,280.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in TIER REIT by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 38,485 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 1,157 shares during the last quarter. Voya Investment Management LLC lifted its position in TIER REIT by 11.1% in the second quarter. Voya Investment Management LLC now owns 23,063 shares of the real estate investment trust’s stock valued at $426,000 after acquiring an additional 2,302 shares during the last quarter. Wells Fargo & Company MN lifted its position in TIER REIT by 3.8% in the second quarter. Wells Fargo & Company MN now owns 68,743 shares of the real estate investment trust’s stock valued at $1,271,000 after acquiring an additional 2,545 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of TIER REIT by 4.8% in the third quarter. First Trust Advisors LP now owns 58,205 shares of the real estate investment trust’s stock valued at $1,123,000 after buying an additional 2,640 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of TIER REIT by 2.5% in the third quarter. California Public Employees Retirement System now owns 125,561 shares of the real estate investment trust’s stock valued at $2,423,000 after buying an additional 3,061 shares during the last quarter. Hedge funds and other institutional investors own 62.98% of the company’s stock.
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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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