BidaskClub lowered shares of InfraREIT, Inc. (NYSE:HIFR) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Several other analysts have also commented on HIFR. Royal Bank Of Canada reaffirmed a hold rating and issued a $22.00 price objective on shares of InfraREIT in a report on Wednesday, August 9th. Zacks Investment Research raised InfraREIT from a strong sell rating to a hold rating in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. InfraREIT currently has an average rating of Buy and a consensus target price of $23.50.

InfraREIT (HIFR) opened at 22.69 on Thursday. InfraREIT has a 12 month low of $14.59 and a 12 month high of $23.01. The stock has a market cap of $993.32 million, a PE ratio of 19.08 and a beta of 0.49. The stock’s 50 day moving average price is $22.51 and its 200-day moving average price is $20.15.

InfraREIT (NYSE:HIFR) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.12). InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The firm had revenue of $40.42 million during the quarter. Analysts anticipate that InfraREIT will post $1.28 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 4.41%. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.

In related news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of InfraREIT stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the transaction, the insider now directly owns 5,398,153 shares in the company, valued at $106,451,577.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 134,964 shares of InfraREIT stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $22.76, for a total value of $3,071,780.64. Following the transaction, the insider now owns 5,053,607 shares in the company, valued at $115,020,095.32. The disclosure for this sale can be found here. Insiders have sold 1,277,929 shares of company stock worth $27,774,665 over the last quarter. 28.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIFR. Principal Financial Group Inc. purchased a new position in InfraREIT during the second quarter valued at $206,000. Advisors Asset Management Inc. lifted its position in InfraREIT by 218.3% during the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 7,885 shares in the last quarter. Clinton Group Inc. lifted its position in InfraREIT by 7.0% during the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 845 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in InfraREIT by 22.7% during the second quarter. Tudor Investment Corp ET AL now owns 16,128 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 2,984 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in InfraREIT by 14.1% during the second quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 2,338 shares in the last quarter. Institutional investors own 83.78% of the company’s stock.

InfraREIT Company Profile

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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