First Allied Advisory Services Inc. Has $303,000 Stake in TIER REIT, Inc. (TIER)
First Allied Advisory Services Inc. raised its holdings in shares of TIER REIT, Inc. (NYSE:TIER) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,872 shares of the real estate investment trust’s stock after acquiring an additional 4,161 shares during the quarter. First Allied Advisory Services Inc.’s holdings in TIER REIT were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Teachers Advisors LLC lifted its stake in shares of TIER REIT by 377.7% during the 2nd quarter. Teachers Advisors LLC now owns 455,516 shares of the real estate investment trust’s stock valued at $8,418,000 after buying an additional 360,165 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in 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 valued at $16,512,000 after acquiring an additional 260,977 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in TIER REIT in the 3rd quarter valued at $4,147,000. Wells Fargo & Company MN increased its holdings in TIER REIT by 277.3% in the 3rd quarter. Wells Fargo & Company MN now owns 259,356 shares of the real estate investment trust’s stock valued at $5,006,000 after acquiring an additional 190,613 shares during the last quarter. Finally, Private Management Group Inc. increased its holdings in 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 valued at $20,994,000 after acquiring an additional 185,440 shares during the last quarter. Institutional investors and hedge funds own 57.50% of the company’s stock.
In other TIER REIT 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 value of $147,150.00. Following the sale, the insider now directly owns 82,736 shares in the company, valued at approximately $1,623,280.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Shares of TIER REIT, Inc. (NYSE TIER) traded up $0.09 during midday trading on Friday, reaching $19.58. 264,800 shares of the company’s stock were exchanged, compared to its average volume of 182,297. The company has a market cap of $941.07, a P/E ratio of 12.61 and a beta of 0.94. TIER REIT, Inc. has a one year low of $15.90 and a one year high of $20.17.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.68%. TIER REIT’s dividend payout ratio is currently 39.56%.
A number of analysts have issued reports on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price target on shares of TIER REIT in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of TIER REIT from a “buy” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, BidaskClub downgraded shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.67.
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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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