AWH Capital L.P. Purchases New Holdings in TIER REIT Inc (TIER)
AWH Capital L.P. purchased a new stake in TIER REIT Inc (NYSE:TIER) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 488,600 shares of the real estate investment trust’s stock, valued at approximately $9,963,000. TIER REIT accounts for 8.8% of AWH Capital L.P.’s holdings, making the stock its 4th biggest holding.
A number of other large investors have also recently made changes to their positions in TIER. Schroder Investment Management Group boosted its holdings in TIER REIT by 9,612.2% in the 4th quarter. Schroder Investment Management Group now owns 602,349 shares of the real estate investment trust’s stock valued at $12,282,000 after purchasing an additional 596,147 shares during the period. APG Asset Management US Inc. purchased a new stake in shares of TIER REIT during the 4th quarter valued at $8,917,000. Cbre Clarion Securities LLC purchased a new stake in shares of TIER REIT during the 4th quarter valued at $4,451,000. Deprince Race & Zollo Inc. purchased a new stake in shares of TIER REIT during the 3rd quarter valued at $4,147,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of TIER REIT by 24.0% during 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 in the last quarter. 62.98% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the company a “buy” rating in a research report on Wednesday, February 28th. BMO Capital Markets restated a “buy” rating and set a $20.00 price objective on shares of TIER REIT in a research report on Thursday, November 9th. Finally, Zacks Investment Research cut shares of TIER REIT from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.33.
Shares of TIER REIT Inc (NYSE TIER) opened at $18.95 on Monday. The firm has a market cap of $905.68, a price-to-earnings ratio of 12.15 and a beta of 0.78. TIER REIT Inc has a 52-week low of $15.96 and a 52-week high of $20.72.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 14th. TIER REIT’s dividend payout ratio (DPR) is currently 41.38%.
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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