TIER REIT (TIER) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “
Several other analysts have also commented on TIER. JMP Securities lowered TIER REIT from an outperform rating to a market perform rating in a research note on Monday, March 25th. Robert W. Baird lowered TIER REIT from an outperform rating to a neutral rating and set a $27.26 price objective on the stock. in a research note on Tuesday, March 26th. Finally, BMO Capital Markets boosted their price objective on TIER REIT from $24.00 to $29.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $27.32.
TIER REIT (NYSE:TIER) last announced its quarterly earnings data on Monday, February 11th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The company had revenue of $55.55 million for the quarter, compared to analyst estimates of $54.49 million. TIER REIT had a negative return on equity of 3.59% and a negative net margin of 12.84%. Sell-side analysts expect that TIER REIT will post 1.43 earnings per share for the current year.
In other news, CEO Scott W. Fordham sold 11,250 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $28.45, for a total transaction of $320,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Schelin Telisa Webb sold 1,100 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.00, for a total value of $27,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 31,250 shares of company stock worth $848,902. Insiders own 1.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TIER. ARP Americas LP bought a new stake in shares of TIER REIT during the first quarter worth $39,290,000. Water Island Capital LLC bought a new stake in shares of TIER REIT during the first quarter worth $21,321,000. Land & Buildings Investment Management LLC raised its position in shares of TIER REIT by 130.9% during the fourth quarter. Land & Buildings Investment Management LLC now owns 1,134,630 shares of the real estate investment trust’s stock worth $23,407,000 after acquiring an additional 643,330 shares during the last quarter. Morgan Stanley raised its position in shares of TIER REIT by 55.0% during the first quarter. Morgan Stanley now owns 1,381,577 shares of the real estate investment trust’s stock worth $39,595,000 after acquiring an additional 490,046 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in shares of TIER REIT during the first quarter worth $13,990,000. Institutional investors own 72.58% of the company’s stock.
TIER REIT Company Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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