SG Americas Securities LLC Acquires Shares of 9,279 TIER REIT, Inc. (TIER)
SG Americas Securities LLC acquired a new position in TIER REIT, Inc. (NYSE:TIER) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,279 shares of the real estate investment trust’s stock, valued at approximately $179,000.
Several other large investors have also recently made changes to their positions in TIER. Vanguard Group Inc. grew its holdings in TIER REIT by 0.6% during the second quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock worth $108,467,000 after acquiring an additional 32,897 shares during the period. State Street Corp grew its holdings in TIER REIT by 2.4% during the second quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock worth $29,634,000 after acquiring an additional 37,056 shares during the period. Private Management Group Inc. grew its holdings in TIER REIT by 19.5% during the second quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock worth $20,994,000 after acquiring an additional 185,440 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in TIER REIT by 41.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after acquiring an additional 260,977 shares during the period. Finally, Northern Trust Corp grew its holdings in TIER REIT by 1.5% during the second quarter. Northern Trust Corp now owns 795,118 shares of the real estate investment trust’s stock worth $14,694,000 after acquiring an additional 11,550 shares during the period. Hedge funds and other institutional investors own 57.50% of the company’s stock.
Shares of TIER REIT, Inc. (TIER) opened at $20.28 on Monday. TIER REIT, Inc. has a 1-year low of $15.96 and a 1-year high of $20.72. The company has a market capitalization of $961.65, a P/E ratio of 11.14 and a beta of 0.94.
The firm also recently disclosed 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. This represents a $0.72 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, December 14th. TIER REIT’s payout ratio is currently 39.56%.
In other TIER REIT news, insider William J. Reister sold 7,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 82,736 shares of the company’s stock, valued at $1,623,280.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.
Several analysts recently commented on TIER shares. Zacks Investment Research raised TIER REIT from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, August 29th. BidaskClub raised TIER REIT from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set 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 three have assigned a buy rating to the company’s stock. TIER REIT presently has an average rating of “Buy” and an average target price of $21.00.
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TIER REIT 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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