TIER REIT (TIER) Rating Increased to Hold at Zacks Investment Research
TIER REIT (NYSE:TIER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “
TIER has been the topic of several other research reports. BidaskClub cut shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and issued a $20.00 target price on shares of TIER REIT in a report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. TIER REIT has an average rating of “Buy” and an average target price of $20.67.
Shares of TIER REIT (NYSE:TIER) opened at $19.67 on Tuesday. TIER REIT has a fifty-two week low of $15.90 and a fifty-two week high of $20.17. The stock has a market cap of $936.29, a P/E ratio of 12.55 and a beta of 0.94.
In other news, insider William J. Reister sold 7,500 shares of TIER REIT stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.62, for a total transaction of $147,150.00. Following the transaction, the insider now owns 82,736 shares in the company, valued at approximately $1,623,280.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in shares of TIER REIT during the 3rd quarter worth $121,000. Advisors Asset Management Inc. purchased a new position in shares of TIER REIT during the 3rd quarter worth $130,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of TIER REIT by 7.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 482 shares during the last quarter. Sei Investments Co. boosted its stake in shares of TIER REIT by 96.1% during the 3rd quarter. Sei Investments Co. now owns 6,871 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 3,367 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of TIER REIT during the 3rd quarter worth $179,000. Institutional investors and hedge funds own 57.50% of the company’s stock.
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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