Brokerages expect TIER REIT Inc (NYSE:TIER) to announce sales of $52.00 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for TIER REIT’s earnings, with the lowest sales estimate coming in at $51.19 million and the highest estimate coming in at $52.80 million. TIER REIT posted sales of $54.55 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The company is scheduled to report its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that TIER REIT will report full-year sales of $211.27 million for the current financial year, with estimates ranging from $208.04 million to $214.50 million. For the next fiscal year, analysts expect that the business will report sales of $218.50 million per share, with estimates ranging from $213.30 million to $223.70 million. Zacks’ sales averages are an average based on a survey of research firms that cover TIER REIT.
TIER has been the subject of a number of recent research reports. Cantor Fitzgerald set a $22.00 target price on shares of TIER REIT and gave the stock a “buy” rating in a report on Thursday, February 22nd. Zacks Investment Research downgraded shares of TIER REIT from a “hold” rating to a “sell” rating in a report on Friday, March 9th. TheStreet downgraded shares of TIER REIT from a “c” rating to a “d+” rating in a report on Wednesday, March 28th. JPMorgan Chase & Co. upgraded shares of TIER REIT from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 16th. Finally, ValuEngine downgraded shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Monday, April 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. TIER REIT has an average rating of “Buy” and a consensus target price of $22.40.
Several institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in shares of TIER REIT during the first quarter valued at about $310,000. Xact Kapitalforvaltning AB increased its holdings in shares of TIER REIT by 72.5% during the first quarter. Xact Kapitalforvaltning AB now owns 18,560 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 7,800 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of TIER REIT by 7.5% during the first quarter. Legal & General Group Plc now owns 143,845 shares of the real estate investment trust’s stock valued at $2,658,000 after acquiring an additional 10,079 shares in the last quarter. Millennium Management LLC increased its holdings in shares of TIER REIT by 50.3% during the first quarter. Millennium Management LLC now owns 277,490 shares of the real estate investment trust’s stock valued at $5,128,000 after acquiring an additional 92,907 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of TIER REIT by 94.8% during the first quarter. LPL Financial LLC now owns 35,040 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 17,055 shares in the last quarter. Hedge funds and other institutional investors own 62.00% of the company’s stock.
Shares of TIER REIT stock opened at $22.25 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.17 and a beta of 0.82. TIER REIT has a one year low of $16.67 and a one year high of $22.74.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. TIER REIT’s dividend payout ratio (DPR) is currently 45.86%.
TIER REIT Company Profile
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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