Wall Street brokerages expect that TIER REIT Inc (NYSE:TIER) will report sales of $53.97 million for the current quarter, Zacks reports. Two analysts have made estimates for TIER REIT’s earnings, with the highest sales estimate coming in at $54.03 million and the lowest estimate coming in at $53.90 million. TIER REIT reported sales of $54.63 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The company is expected to report its next earnings results on Monday, February 11th.
On average, analysts expect that TIER REIT will report full year sales of $215.75 million for the current year, with estimates ranging from $214.50 million to $216.99 million. For the next financial year, analysts forecast that the company will report sales of $221.37 million, with estimates ranging from $219.04 million to $223.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TIER REIT.
TIER REIT (NYSE:TIER) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $54.83 million for the quarter, compared to the consensus estimate of $53.90 million. TIER REIT had a return on equity of 1.79% and a net margin of 5.92%.
NYSE TIER opened at $22.97 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 14.63 and a beta of 0.87. TIER REIT has a 1-year low of $17.04 and a 1-year high of $24.98.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, December 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, December 13th. TIER REIT’s dividend payout ratio (DPR) is presently 45.86%.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in TIER REIT by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,296,821 shares of the real estate investment trust’s stock worth $127,653,000 after purchasing an additional 195,055 shares during the last quarter. BlackRock Inc. raised its position in shares of TIER REIT by 9.0% during the 3rd quarter. BlackRock Inc. now owns 4,845,137 shares of the real estate investment trust’s stock valued at $116,767,000 after acquiring an additional 400,548 shares during the last quarter. Cbre Clarion Securities LLC raised its position in shares of TIER REIT by 1,432.8% during the 2nd quarter. Cbre Clarion Securities LLC now owns 1,545,102 shares of the real estate investment trust’s stock valued at $36,743,000 after acquiring an additional 1,444,302 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of TIER REIT by 37.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,275,000 shares of the real estate investment trust’s stock valued at $30,728,000 after acquiring an additional 349,113 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of TIER REIT by 40.3% during the 2nd quarter. Northern Trust Corp now owns 1,188,157 shares of the real estate investment trust’s stock valued at $28,254,000 after acquiring an additional 341,182 shares during the last quarter. Hedge funds and other institutional investors own 64.55% of the company’s stock.
About TIER REIT
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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