Nationwide Fund Advisors Sells 55,435 Shares of InfraREIT Inc. (HIFR)
Nationwide Fund Advisors decreased its position in shares of InfraREIT Inc. (NYSE:HIFR) by 27.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,424 shares of the real estate investment trust’s stock after selling 55,435 shares during the period. Nationwide Fund Advisors’ holdings in InfraREIT were worth $2,621,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of HIFR. Strs Ohio increased its stake in shares of InfraREIT by 90.0% in the second quarter. Strs Ohio now owns 13,300 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 6,300 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of InfraREIT during the second quarter valued at $283,000. Pensionfund DSM Netherlands purchased a new position in shares of InfraREIT during the second quarter valued at $1,126,000. Pensionfund Sabic purchased a new position in shares of InfraREIT during the second quarter valued at $556,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of InfraREIT during the first quarter valued at $1,585,000. 80.17% of the stock is owned by hedge funds and other institutional investors.
InfraREIT Inc. (NYSE:HIFR) traded up 1.08% on Monday, hitting $16.90. 10,877 shares of the company’s stock traded hands. The stock has a market cap of $739.61 million, a PE ratio of 15.76 and a beta of 0.34. InfraREIT Inc. has a one year low of $13.61 and a one year high of $25.21. The stock has a 50-day moving average of $18.35 and a 200-day moving average of $17.45.
InfraREIT (NYSE:HIFR) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter. The business earned $33.79 million during the quarter, compared to analysts’ expectations of $171.65 million. InfraREIT had a net margin of 29.22% and a return on equity of 7.54%.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.98%. InfraREIT’s dividend payout ratio is currently 94.34%.
Separately, Wells Fargo & Co. reaffirmed a “buy” rating on shares of InfraREIT in a report on Tuesday, August 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.00.
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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