InfraREIT (HIFR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of InfraREIT (NYSE:HIFR) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $24.00 price target on the real estate investment trust’s stock.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

Several other research analysts have also recently weighed in on HIFR. ValuEngine raised InfraREIT from a hold rating to a buy rating in a research note on Tuesday. Wells Fargo & Co decreased their target price on InfraREIT from $22.00 to $21.00 and set a market perform rating for the company in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $21.00.

HIFR stock traded down $0.45 during trading hours on Thursday, hitting $21.29. 7,967 shares of the stock traded hands, compared to its average volume of 1,393,524. InfraREIT has a one year low of $17.60 and a one year high of $22.83. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.91.

InfraREIT (NYSE:HIFR) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. InfraREIT had a return on equity of 9.77% and a net margin of 18.02%. The business had revenue of $48.93 million during the quarter. On average, equities research analysts anticipate that InfraREIT will post 1.37 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Friday, September 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.00 annualized dividend and a yield of 4.70%.

A number of hedge funds have recently made changes to their positions in HIFR. BlackRock Inc. boosted its position in shares of InfraREIT by 1.0% in the 3rd quarter. BlackRock Inc. now owns 3,034,117 shares of the real estate investment trust’s stock valued at $64,171,000 after purchasing an additional 30,249 shares during the period. FMR LLC boosted its position in shares of InfraREIT by 230.1% in the 2nd quarter. FMR LLC now owns 2,018,080 shares of the real estate investment trust’s stock valued at $44,741,000 after purchasing an additional 1,406,778 shares during the period. Reaves W H & Co. Inc. boosted its position in shares of InfraREIT by 9.9% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,345,688 shares of the real estate investment trust’s stock valued at $28,461,000 after purchasing an additional 120,812 shares during the period. Prudential Financial Inc. boosted its position in shares of InfraREIT by 0.6% in the 3rd quarter. Prudential Financial Inc. now owns 569,384 shares of the real estate investment trust’s stock valued at $12,043,000 after purchasing an additional 3,624 shares during the period. Finally, Northern Trust Corp boosted its position in shares of InfraREIT by 9.0% in the 2nd quarter. Northern Trust Corp now owns 488,543 shares of the real estate investment trust’s stock valued at $10,831,000 after purchasing an additional 40,317 shares during the period. 84.82% of the stock is owned by institutional investors and hedge funds.

InfraREIT Company Profile

InfraREIT is engaged in owning and leasing rate-regulated electric transmission assets in the state of Texas and is structured as a real estate investment trust. The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc (a diversified holding company based in Dallas, Texas, and managed by the Ray L.

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