InfraREIT, Inc. (NYSE:HIFR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

Several other research analysts also recently issued reports on HIFR. BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.50.

InfraREIT (NYSE HIFR) traded down 0.36% during midday trading on Monday, reaching $22.15. 109,660 shares of the company’s stock traded hands. InfraREIT has a 52-week low of $14.59 and a 52-week high of $23.06. The firm’s 50-day moving average is $22.48 and its 200 day moving average is $22.48. The firm has a market cap of $969.68 million, a PE ratio of 18.63 and a beta of 0.49.

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

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In related news, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the transaction, the insider now owns 5,463,489 shares in the company, valued at $107,412,193.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the transaction, the insider now owns 5,398,153 shares in the company, valued at approximately $106,451,577.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,277,929 shares of company stock worth $27,774,665. Insiders own 28.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in InfraREIT during the second quarter valued at approximately $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 during the period. 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 during the period. 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 during the period. 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 during the period. Institutional investors own 83.78% of the company’s stock.

About InfraREIT

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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