TIER REIT (TIER) Upgraded to “Overweight” at JPMorgan Chase

JPMorgan Chase upgraded shares of TIER REIT (NYSE:TIER) from a neutral rating to an overweight rating in a report released on Wednesday morning, MarketBeat.com reports.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the company a buy rating in a research report on Tuesday, March 6th. BMO Capital Markets set a $21.00 price objective on shares of TIER REIT and gave the company a buy rating in a research report on Monday, February 12th. ValuEngine upgraded shares of TIER REIT from a hold rating to a buy rating in a research report on Wednesday, May 2nd. TheStreet cut shares of TIER REIT from a c rating to a d+ rating in a research report on Wednesday, March 28th. Finally, Zacks Investment Research cut shares of TIER REIT from a hold rating to a sell rating in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $21.33.

TIER REIT opened at $21.24 on Wednesday, MarketBeat.com reports. The firm has a market cap of $1.02 billion, a PE ratio of 13.53 and a beta of 0.75. TIER REIT has a fifty-two week low of $15.96 and a fifty-two week high of $21.57.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, June 14th. TIER REIT’s payout ratio is presently 45.86%.

A number of large investors have recently modified their holdings of TIER. JPMorgan Chase & Co. raised its position in TIER REIT by 52.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,745 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 4,065 shares during the period. Dimensional Fund Advisors LP increased its position in shares of TIER REIT by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 412,723 shares of the real estate investment trust’s stock valued at $7,966,000 after acquiring an additional 38,566 shares during the period. California Public Employees Retirement System increased its position 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 acquiring an additional 3,061 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of TIER REIT by 14.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,264,053 shares of the real estate investment trust’s stock valued at $25,775,000 after acquiring an additional 155,910 shares during the period. Finally, APG Asset Management US Inc. purchased a new position in shares of TIER REIT in the fourth quarter valued at about $8,917,000. Institutional investors own 61.34% of the company’s stock.

About TIER REIT

TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.

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