TIER REIT (NYSE:TIER) announced its earnings results on Monday. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06, MarketWatch Earnings reports. TIER REIT had a negative return on equity of 2.59% and a negative net margin of 8.33%. The company had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $53.90 million. TIER REIT updated its FY 2018 guidance to $1.53-1.56 EPS.
TIER stock traded up $0.26 during mid-day trading on Tuesday, reaching $23.07. The company had a trading volume of 7,468 shares, compared to its average volume of 257,993. The firm has a market capitalization of $1.11 billion, a P/E ratio of 14.59 and a beta of 0.87. TIER REIT has a fifty-two week low of $17.04 and a fifty-two week high of $24.98.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 14th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, December 13th. TIER REIT’s dividend payout ratio is currently 45.86%.
A number of hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd raised its position in TIER REIT by 54.1% in the 3rd quarter. WINTON GROUP Ltd now owns 23,650 shares of the real estate investment trust’s stock valued at $570,000 after purchasing an additional 8,300 shares in the last quarter. Private Advisor Group LLC raised its position in TIER REIT by 47.2% in the 3rd quarter. Private Advisor Group LLC now owns 33,843 shares of the real estate investment trust’s stock valued at $816,000 after purchasing an additional 10,855 shares in the last quarter. Victory Capital Management Inc. raised its position in TIER REIT by 26.3% in the 3rd quarter. Victory Capital Management Inc. now owns 857,018 shares of the real estate investment trust’s stock valued at $20,654,000 after purchasing an additional 178,257 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in TIER REIT in the 3rd quarter valued at about $662,000. Finally, First Trust Advisors LP acquired a new stake in TIER REIT in the 3rd quarter valued at about $218,000. 65.00% of the stock is currently owned by institutional investors.
TIER has been the subject of a number of research analyst reports. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 18th. JMP Securities raised their target price on TIER REIT from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Wednesday, August 8th. Robert W. Baird raised their target price on TIER REIT from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Finally, TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a report on Monday, July 23rd. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $24.60.
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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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