Bessemer Group Inc. Raises Stake in InfraREIT, Inc. (NYSE:HIFR)
Bessemer Group Inc. boosted its position in InfraREIT, Inc. (NYSE:HIFR) by 3.6% during the second quarter, Holdings Channel reports. The firm owned 75,200 shares of the real estate investment trust’s stock after buying an additional 2,600 shares during the period. Bessemer Group Inc.’s holdings in InfraREIT were worth $1,440,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of HIFR. Advisors Asset Management Inc. increased its position in InfraREIT by 218.3% in the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 7,885 shares during the period. Clinton Group Inc. increased its position in InfraREIT by 7.0% in the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 845 shares during the period. Acadian Asset Management LLC increased its position in InfraREIT by 310.3% in the second quarter. Acadian Asset Management LLC now owns 19,643 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 14,856 shares during the period. Karp Capital Management Corp purchased a new position in InfraREIT during the first quarter worth about $418,000. Finally, American International Group Inc. increased its position in InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 1,623 shares during the period. Institutional investors and hedge funds own 84.01% of the company’s stock.
Shares of InfraREIT, Inc. (NYSE:HIFR) opened at 21.06 on Friday. The stock has a market capitalization of $921.96 million, a PE ratio of 17.71 and a beta of 0.49. The stock has a 50 day moving average price of $20.42 and a 200-day moving average price of $18.68. InfraREIT, Inc. has a 1-year low of $14.59 and a 1-year high of $23.12.
InfraREIT (NYSE:HIFR) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.12. The firm had revenue of $40.42 million for the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. On average, analysts forecast that InfraREIT, Inc. will post $1.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.00 annualized dividend and a yield of 4.75%. InfraREIT’s payout ratio is presently 83.33%.
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A number of research firms have recently commented on HIFR. BidaskClub cut InfraREIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 target price on shares of InfraREIT in a research note on Wednesday. Zacks Investment Research raised InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, July 26th. Finally, Wolfe Research raised InfraREIT from a “market perform” rating to an “outperform” rating in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. InfraREIT has a consensus rating of “Buy” and a consensus target price of $23.50.
In other news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $19.72, for a total value of $1,288,425.92. Following the sale, the insider now owns 5,398,153 shares in the company, valued at $106,451,577.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $19.66, for a total value of $1,233,586.36. Following the completion of the sale, the insider now owns 5,463,489 shares in the company, valued at approximately $107,412,193.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 853,841 shares of company stock worth $18,376,891. Company insiders own 28.00% of the company’s stock.
InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its 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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