American International Group Inc. increased its stake in shares of TIER REIT Inc (NYSE:TIER) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,322 shares of the real estate investment trust’s stock after purchasing an additional 1,780 shares during the quarter. American International Group Inc. owned 0.07% of TIER REIT worth $729,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP purchased a new position in shares of TIER REIT during the third quarter worth approximately $218,000. Russell Investments Group Ltd. purchased a new position in shares of TIER REIT during the third quarter worth approximately $662,000. JPMorgan Chase & Co. grew its position in shares of TIER REIT by 121.7% during the third quarter. JPMorgan Chase & Co. now owns 637,044 shares of the real estate investment trust’s stock worth $15,353,000 after acquiring an additional 349,711 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of TIER REIT by 7.4% during the third quarter. Bank of New York Mellon Corp now owns 455,173 shares of the real estate investment trust’s stock worth $10,969,000 after acquiring an additional 31,509 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of TIER REIT by 9.0% during the third quarter. BlackRock Inc. now owns 4,845,137 shares of the real estate investment trust’s stock worth $116,767,000 after acquiring an additional 400,548 shares during the last quarter. 74.24% of the stock is owned by institutional investors.
Several brokerages recently weighed in on TIER. BMO Capital Markets increased their price target on TIER REIT from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. JMP Securities reaffirmed a “buy” rating and set a $27.00 price target on shares of TIER REIT in a report on Wednesday, February 27th. Zacks Investment Research raised TIER REIT from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Robert W. Baird downgraded TIER REIT from an “outperform” rating to a “neutral” rating and set a $27.26 price target for the company. in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.32.
TIER REIT stock traded up $0.29 during midday trading on Friday, reaching $28.17. The company’s stock had a trading volume of 229,158 shares, compared to its average volume of 466,929. TIER REIT Inc has a fifty-two week low of $18.71 and a fifty-two week high of $29.16. The company has a market cap of $1.56 billion, a P/E ratio of 17.50 and a beta of 1.08.
TIER REIT (NYSE:TIER) last released its earnings results on Monday, February 11th. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. TIER REIT had a negative return on equity of 0.67% and a negative net margin of 2.30%. The company had revenue of $55.55 million during the quarter, compared to the consensus estimate of $54.49 million. On average, equities analysts anticipate that TIER REIT Inc will post 1.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Thursday, March 14th. TIER REIT’s dividend payout ratio (DPR) is currently 44.72%.
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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