TIER REIT Inc (TIER) Shares Sold by UBS Group AG
UBS Group AG reduced its stake in TIER REIT Inc (OTCMKTS:TIER) by 41.7% during the first quarter, Holdings Channel reports. The institutional investor owned 11,477 shares of the real estate investment trust’s stock after selling 8,196 shares during the period. UBS Group AG’s holdings in TIER REIT were worth $200,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in TIER REIT by 128.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 132,968 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 74,680 shares in the last quarter. Teachers Advisors LLC boosted its stake in TIER REIT by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 89,489 shares of the real estate investment trust’s stock valued at $1,556,000 after buying an additional 1,016 shares in the last quarter. Clinton Group Inc. bought a new stake in TIER REIT during the first quarter valued at approximately $210,000. UBS Asset Management Americas Inc. boosted its stake in TIER REIT by 9.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 64,440 shares of the real estate investment trust’s stock valued at $1,121,000 after buying an additional 5,643 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of TIER REIT by 28.6% in the fourth quarter. AQR Capital Management LLC now owns 76,956 shares of the real estate investment trust’s stock worth $1,338,000 after buying an additional 17,110 shares during the period.
TIER REIT Inc (TIER) traded down 0.77% during mid-day trading on Monday, reaching $18.01. 11,432 shares of the company’s stock were exchanged. TIER REIT Inc has a one year low of $14.06 and a one year high of $18.95. The company’s 50-day moving average is $18.03 and its 200 day moving average is $17.62. The firm has a market capitalization of $860.90 million and a P/E ratio of 10.69.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, September 14th.
A number of research analysts recently issued reports on TIER shares. BMO Capital Markets set a $20.00 price target on shares of TIER REIT and gave the company a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Friday, June 16th. Finally, TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th.
About TIER REIT
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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