Clinton Group Inc. purchased a new stake in shares of TIER REIT Inc (OTCMKTS:TIER) during the first quarter, Holdings Channel reports. The firm purchased 12,107 shares of the real estate investment trust’s stock, valued at approximately $210,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hood River Capital Management LLC purchased a new position in TIER REIT during the first quarter worth about $10,436,000. Opus Capital Group LLC purchased a new position in TIER REIT during the first quarter worth about $6,673,000. Martingale Asset Management L P purchased a new position in TIER REIT during the first quarter worth about $4,466,000. Dimensional Fund Advisors LP raised its position in TIER REIT by 128.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 132,968 shares of the real estate investment trust’s stock worth $2,312,000 after buying an additional 74,680 shares during the last quarter. Finally, State Street Corp raised its position in TIER REIT by 3.8% in the fourth quarter. State Street Corp now owns 1,506,967 shares of the real estate investment trust’s stock worth $26,207,000 after buying an additional 55,758 shares during the last quarter.
Shares of TIER REIT Inc (TIER) opened at 17.51 on Friday. TIER REIT Inc has a 52 week low of $14.06 and a 52 week high of $18.80. The stock has a 50 day moving average of $16.77 and a 200-day moving average of $17.34. The firm has a market capitalization of $837.00 million and a price-to-earnings ratio of 10.39.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Tuesday, June 13th.
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A number of research firms have issued reports on TIER. Zacks Investment Research raised shares of TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday. TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th. Finally, BMO Capital Markets set a $20.00 target price on shares of TIER REIT and gave the company a “buy” rating in a research note on Thursday, May 11th.
About TIER REIT
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.
Want to see what other hedge funds are holding TIER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TIER REIT Inc (OTCMKTS:TIER).
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