InfraREIT Inc. (HIFR) To Go Ex-Dividend on September 28th
InfraREIT Inc. (NYSE:HIFR) announced a quarterly dividend on Friday, September 2nd. Shareholders of record on Friday, September 30th will be paid a dividend of 0.25 per share by the real estate investment trust on Thursday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Wednesday, September 28th.
Separately, Wells Fargo & Co. reissued a “buy” rating on shares of InfraREIT in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $21.00.
A number of institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in InfraREIT during the second quarter worth about $257,000. Panagora Asset Management Inc. purchased a new position in InfraREIT during the second quarter worth about $107,000. Adage Capital Partners GP L.L.C. boosted its position in InfraREIT by 15,358.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,561,329 shares of the real estate investment trust’s stock worth $27,386,000 after buying an additional 1,551,229 shares during the period. Marshall Wace LLP boosted its position in InfraREIT by 181.1% in the second quarter. Marshall Wace LLP now owns 28,639 shares of the real estate investment trust’s stock worth $502,000 after buying an additional 18,450 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new position in InfraREIT during the second quarter worth about $541,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
InfraREIT (NYSE:HIFR) opened at 18.92 on Friday. InfraREIT has a 52-week low of $13.61 and a 52-week high of $25.50. The firm has a market cap of $828.01 million, a PE ratio of 17.65 and a beta of 0.33. The company’s 50 day moving average price is $18.19 and its 200 day moving average price is $17.29.
InfraREIT (NYSE:HIFR) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter. The firm earned $33.79 million during the quarter, compared to analysts’ expectations of $171.65 million. InfraREIT had a return on equity of 7.54% and a net margin of 29.22%.
InfraREIT Company Profile
InfraREIT, Inc is a real estate investment trust. The Company owns electric transmission and distribution (T&D) assets in Texas. Its segment is rate-regulated electric T&D assets. The Company’s T&D assets are located in the Texas Panhandle near Amarillo; the Permian Basin in and around Stanton, Central Texas; around Brady, Northeast Texas; in and around Celeste, and South Texas near McAllen.
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