Creative Planning Acquires 11 Shares of TIER REIT Inc (TIER)
Creative Planning raised its position in TIER REIT Inc (OTCMKTS:TIER) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,263 shares of the real estate investment trust’s stock after buying an additional 11 shares during the period. Creative Planning’s holdings in TIER REIT were worth $171,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in TIER. Engine Capital Management LLC increased its stake in shares of 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 valued at $15,733,000 after buying an additional 884,900 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of TIER REIT by 30.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 632,522 shares of the real estate investment trust’s stock valued at $10,981,000 after buying an additional 149,375 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 during the period. Teachers Advisors LLC increased its stake in shares of 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 during the period. Finally, Investment Centers of America Inc. purchased a new stake in shares of TIER REIT during the first quarter valued at approximately $267,000.
Shares of TIER REIT Inc (OTCMKTS:TIER) traded up 0.45% during mid-day trading on Thursday, reaching $17.91. 24,073 shares of the company traded hands. The firm has a 50 day moving average of $18.13 and a 200-day moving average of $17.63. The stock has a market capitalization of $856.87 million and a PE ratio of 9.12. TIER REIT Inc has a 52 week low of $14.06 and a 52 week high of $18.95.
TIER REIT (OTCMKTS:TIER) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The business had revenue of $54.55 million during the quarter, compared to the consensus estimate of $52.39 million. TIER REIT had a return on equity of 59.24% and a net margin of 174.73%. On average, equities research analysts expect that TIER REIT Inc will post $1.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, September 14th.
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Several analysts recently commented on the stock. Zacks Investment Research raised shares of TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Friday, June 16th. TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th. Finally, BMO Capital Markets set a $20.00 price objective on shares of TIER REIT and gave the company a “buy” rating in a research report on Thursday, May 11th.
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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