Greenwich Investment Management Inc. Maintains Stake in TIER REIT Inc (TIER)
Greenwich Investment Management Inc. maintained its stake in TIER REIT Inc (OTCMKTS:TIER) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,300 shares of the real estate investment trust’s stock at the close of the 2nd quarter. TIER REIT comprises 1.8% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 20th biggest position. Greenwich Investment Management Inc. owned approximately 0.17% of TIER REIT worth $1,520,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of TIER REIT by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock worth $108,467,000 after acquiring an additional 32,897 shares during the period. State Street Corp lifted its stake in shares of TIER REIT by 3.9% in the 1st quarter. State Street Corp now owns 1,566,487 shares of the real estate investment trust’s stock worth $27,197,000 after acquiring an additional 59,520 shares during the period. Private Management Group Inc. lifted its stake in shares of TIER REIT by 19.5% in the 2nd quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock worth $20,994,000 after acquiring an additional 185,440 shares during the period. Engine Capital Management LLC lifted its stake in shares of TIER REIT by 4,139.5% in the 1st quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock worth $15,733,000 after acquiring an additional 884,900 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of TIER REIT by 41.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after acquiring an additional 260,977 shares during the period.
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Several analysts recently commented on the stock. Zacks Investment Research lowered shares of TIER REIT from a “buy” rating to a “hold” rating in a research note on Saturday. TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th.
TIER REIT Inc (TIER) traded down 0.58% during mid-day trading on Friday, reaching $18.71. 173,866 shares of the company traded hands. The firm has a market cap of $895.14 million and a PE ratio of 9.53. The stock’s 50-day moving average price is $18.30 and its 200-day moving average price is $17.64. TIER REIT Inc has a one year low of $14.06 and a one year high of $18.95.
TIER REIT (OTCMKTS:TIER) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $54.55 million for the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. Analysts forecast that TIER REIT Inc will post $2.24 earnings per share 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 $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, September 14th.
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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