BidaskClub upgraded shares of InfraREIT, Inc. (NYSE:HIFR) from a buy rating to a strong-buy rating in a report released on Thursday morning.

A number of other equities research analysts have also issued reports on the stock. Royal Bank Of Canada reissued a hold rating and set a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of InfraREIT from a hold rating to a buy rating and set a $25.00 target price for the company in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $23.50.

Shares of InfraREIT (NYSE HIFR) opened at 22.22 on Thursday. InfraREIT has a 52 week low of $14.59 and a 52 week high of $23.12. The firm has a market capitalization of $972.75 million, a PE ratio of 18.69 and a beta of 0.49. The stock has a 50 day moving average price of $21.02 and a 200-day moving average price of $19.03.

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 analysts’ consensus estimates of $0.32 by $0.12. The company had revenue of $40.42 million for the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. Equities analysts anticipate that InfraREIT will post $1.28 earnings per share for the current year.

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In related news, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of InfraREIT stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $19.66, for a total value of $1,233,586.36. Following the completion of the sale, the insider now owns 5,463,489 shares of the company’s stock, valued at approximately $107,412,193.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of InfraREIT stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $19.79, for a total transaction of $989,500.00. Following the completion of the sale, the insider now directly owns 5,526,235 shares of the company’s stock, valued at approximately $109,364,190.65. The disclosure for this sale can be found here. Insiders have sold a total of 1,197,841 shares of company stock valued at $25,978,291 in the last three months. Company insiders own 28.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HIFR. Sterling Capital Management LLC raised its stake in InfraREIT by 8.4% in the second quarter. Sterling Capital Management LLC now owns 56,981 shares of the real estate investment trust’s stock valued at $1,091,000 after buying an additional 4,396 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in InfraREIT by 28.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 154,455 shares of the real estate investment trust’s stock valued at $2,958,000 after buying an additional 34,461 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in InfraREIT during the second quarter valued at about $589,000. State Street Corp raised its stake in InfraREIT by 10.8% in the second quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock valued at $16,697,000 after buying an additional 84,696 shares during the last quarter. Finally, Castleton Investment Management LLC acquired a new stake in InfraREIT during the second quarter valued at about $1,537,000. 83.78% of the stock is owned by institutional investors and hedge funds.

InfraREIT Company Profile

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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