Analysts predict that TIER REIT Inc (NYSE:TIER) will announce earnings per share of $0.36 for the current quarter, Zacks reports. Two analysts have made estimates for TIER REIT’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. TIER REIT reported earnings per share of $0.41 during the same quarter last year, which would suggest a negative year-over-year growth rate of 12.2%. The business is expected to report its next earnings report on Monday, August 6th.
According to Zacks, analysts expect that TIER REIT will report full-year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.28 to $1.52. For the next fiscal year, analysts anticipate that the company will report earnings of $1.57 per share, with EPS estimates ranging from $1.52 to $1.62. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for TIER REIT.
Several brokerages have recently issued reports on TIER. JPMorgan Chase & Co. upgraded shares of TIER REIT from a “neutral” rating to an “overweight” rating in a report on Thursday, May 31st. ValuEngine upgraded shares of TIER REIT from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. TheStreet cut shares of TIER REIT from a “c” rating to a “d+” rating in a research note on Wednesday, March 28th. Robert W. Baird began coverage on shares of TIER REIT in a research note on Wednesday, May 30th. They set an “outperform” rating and a $23.00 price target for the company. Finally, BMO Capital Markets reiterated a “buy” rating on shares of TIER REIT in a research note on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. TIER REIT has an average rating of “Buy” and an average price target of $22.40.
Shares of TIER REIT stock traded down $0.17 during trading hours on Tuesday, hitting $23.78. The company had a trading volume of 1,314,900 shares, compared to its average volume of 229,678. TIER REIT has a twelve month low of $16.67 and a twelve month high of $24.22. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.22 and a beta of 0.82.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, June 14th. TIER REIT’s dividend payout ratio is currently 45.86%.
A number of large investors have recently modified their holdings of TIER. Schroder Investment Management Group boosted its stake in TIER REIT by 100.6% during the 1st quarter. Schroder Investment Management Group now owns 1,208,359 shares of the real estate investment trust’s stock worth $22,331,000 after purchasing an additional 606,010 shares during the period. AWH Capital L.P. purchased a new position in TIER REIT during the 4th quarter worth $9,963,000. Cbre Clarion Securities LLC purchased a new position in TIER REIT during the 4th quarter worth $4,451,000. BlackRock Inc. raised its position in TIER REIT by 4.6% during the 4th quarter. BlackRock Inc. now owns 4,219,774 shares of the real estate investment trust’s stock worth $86,040,000 after buying an additional 186,042 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in TIER REIT by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 366,700 shares of the real estate investment trust’s stock worth $7,477,000 after buying an additional 157,400 shares during the last quarter. Hedge funds and other institutional investors own 62.00% 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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