TIER REIT (TIER) Now Covered by Cantor Fitzgerald
Research analysts at Cantor Fitzgerald assumed coverage on shares of TIER REIT (NYSE:TIER) in a note issued to investors on Saturday. The firm set an “overweight” rating and a $22.00 price target on the real estate investment trust’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 7.90% from the company’s previous close.
Several other brokerages have also commented on TIER. BidaskClub raised TIER REIT from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research raised TIER REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 price target on shares of TIER REIT in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.00.
TIER REIT (NYSE:TIER) opened at $20.39 on Friday. TIER REIT has a 12 month low of $15.96 and a 12 month high of $20.72. The firm has a market capitalization of $984.61, a price-to-earnings ratio of 11.20 and a beta of 0.94.
In related news, insider William J. Reister sold 7,500 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total value of $147,150.00. Following the sale, the insider now owns 82,736 shares in the company, valued at approximately $1,623,280.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 valued at $108,467,000 after buying an additional 32,897 shares during the period. State Street Corp raised its holdings in shares of TIER REIT by 2.4% in the 2nd quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock valued at $29,634,000 after buying an additional 37,056 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of TIER REIT by 24.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,108,143 shares of the real estate investment trust’s stock valued at $21,388,000 after buying an additional 214,644 shares during the period. Northern Trust Corp raised its holdings in shares of TIER REIT by 1.5% in the 2nd quarter. Northern Trust Corp now owns 795,118 shares of the real estate investment trust’s stock valued at $14,694,000 after buying an additional 11,550 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in TIER REIT by 2.3% during the 2nd quarter. Hood River Capital Management LLC now owns 615,070 shares of the real estate investment trust’s stock worth $11,366,000 after purchasing an additional 13,935 shares during the period. Hedge funds and other institutional investors own 57.50% of the company’s stock.
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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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