TIER REIT Inc (OTCMKTS:TIER) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
TIER REIT Inc (OTCMKTS:TIER) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04, Bloomberg Earnings reports. The business had revenue of $54.55 million during the quarter, compared to analysts’ expectations of $52.39 million. TIER REIT had a return on equity of 59.24% and a net margin of 174.73%.
TIER REIT (TIER) traded up 2.00% during mid-day trading on Tuesday, hitting $18.40. The stock had a trading volume of 95,474 shares. TIER REIT has a 12-month low of $14.06 and a 12-month high of $18.95. The company has a 50-day moving average of $18.03 and a 200-day moving average of $17.62. The stock has a market cap of $879.54 million and a price-to-earnings ratio of 10.92.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.99%.
TIER has been the subject of several recent analyst reports. Zacks Investment Research raised TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Friday, June 16th. TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th. Finally, BMO Capital Markets set a $20.00 price target on TIER REIT and gave the company a “buy” rating in a report on Thursday, May 11th.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of TIER REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,836,570 shares of the real estate investment trust’s stock worth $101,323,000 after buying an additional 159,282 shares during the period. State Street Corp increased its stake in TIER REIT by 3.9% in the first quarter. State Street Corp now owns 1,566,487 shares of the real estate investment trust’s stock worth $27,197,000 after buying an additional 59,520 shares during the period. Engine Capital Management LLC increased its stake in TIER REIT by 4,139.5% in the first quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock worth $15,733,000 after buying an additional 884,900 shares during the period. Schwab Charles Investment Management Inc. increased its stake in TIER REIT by 41.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after buying an additional 260,977 shares during the period. Finally, Hood River Capital Management LLC purchased a new stake in TIER REIT during the first quarter worth $10,436,000.
TIER REIT Company Profile
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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