TIER REIT (NYSE:TIER) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other analysts also recently weighed in on the company. Robert W. Baird lifted their price target on TIER REIT from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. JMP Securities lifted their price target on TIER REIT from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 8th. Finally, TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $24.60.
TIER REIT (NYSE:TIER) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. TIER REIT had a return on equity of 1.79% and a net margin of 5.92%. The firm had revenue of $54.83 million for the quarter, compared to the consensus estimate of $53.90 million. As a group, research analysts anticipate that TIER REIT will post 1.56 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP raised its holdings in TIER REIT by 8.8% during the second quarter. GSA Capital Partners LLP now owns 59,247 shares of the real estate investment trust’s stock worth $1,409,000 after purchasing an additional 4,769 shares during the last quarter. Bowling Portfolio Management LLC acquired a new position in TIER REIT during the third quarter worth $823,000. Paloma Partners Management Co acquired a new position in TIER REIT during the second quarter worth $242,000. State of Alaska Department of Revenue acquired a new position in TIER REIT during the third quarter worth $389,000. Finally, BlackRock Inc. raised its holdings in TIER REIT by 5.4% during the second quarter. BlackRock Inc. now owns 4,444,589 shares of the real estate investment trust’s stock worth $105,694,000 after purchasing an additional 227,688 shares during the last quarter. 65.00% of the stock is owned by hedge funds and other institutional investors.
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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