TIER REIT Inc (TIER) Position Lifted by Hood River Capital Management LLC
Hood River Capital Management LLC increased its position in shares of TIER REIT Inc (OTCMKTS:TIER) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,070 shares of the real estate investment trust’s stock after acquiring an additional 13,935 shares during the quarter. Hood River Capital Management LLC owned about 1.29% of TIER REIT worth $11,366,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its holdings in TIER REIT by 1.1% during the 4th quarter. Teachers Advisors LLC now owns 89,489 shares of the real estate investment trust’s stock worth $1,556,000 after buying an additional 1,016 shares during the period. Russell Investments Group Ltd. raised its holdings in TIER REIT by 154.1% during the 1st quarter. Russell Investments Group Ltd. now owns 15,660 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 9,497 shares during the period. Wells Fargo & Company MN raised its holdings in TIER REIT by 0.3% during the 1st quarter. Wells Fargo & Company MN now owns 66,198 shares of the real estate investment trust’s stock worth $1,149,000 after buying an additional 180 shares during the period. Great West Life Assurance Co. Can raised its holdings in TIER REIT by 4.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 30,305 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 1,202 shares during the period. Finally, First Trust Advisors LP raised its holdings in TIER REIT by 5.0% during the 1st quarter. First Trust Advisors LP now owns 75,082 shares of the real estate investment trust’s stock worth $1,303,000 after buying an additional 3,549 shares during the period.
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Several brokerages have commented on TIER. Zacks Investment Research downgraded shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Saturday. TheStreet upgraded shares of TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th.
TIER REIT Inc (OTCMKTS:TIER) traded up 0.69% during mid-day trading on Monday, hitting $18.84. 15,128 shares of the stock were exchanged. The company has a market capitalization of $901.36 million and a PE ratio of 9.59. TIER REIT Inc has a 1-year low of $14.06 and a 1-year high of $18.95. The stock has a 50 day moving average price of $18.30 and a 200 day moving average price of $17.64.
TIER REIT (OTCMKTS:TIER) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $54.55 million for the quarter, compared to analysts’ expectations of $52.39 million. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. On average, equities analysts anticipate that TIER REIT Inc will post $2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, September 14th.
About TIER REIT
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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