MetLife Investment Advisors LLC trimmed its position in shares of TIER REIT Inc (NYSE:TIER) by 37.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,342 shares of the real estate investment trust’s stock after selling 13,192 shares during the period. MetLife Investment Advisors LLC’s holdings in TIER REIT were worth $461,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TIER. First Trust Advisors LP lifted its position in TIER REIT by 699.1% in the 4th quarter. First Trust Advisors LP now owns 72,378 shares of the real estate investment trust’s stock valued at $1,493,000 after purchasing an additional 63,320 shares during the last quarter. Northern Trust Corp lifted its position in TIER REIT by 4.4% in the 4th quarter. Northern Trust Corp now owns 1,265,169 shares of the real estate investment trust’s stock valued at $26,102,000 after purchasing an additional 53,293 shares during the last quarter. AQR Capital Management LLC lifted its position in TIER REIT by 26.9% in the 3rd quarter. AQR Capital Management LLC now owns 102,749 shares of the real estate investment trust’s stock valued at $2,476,000 after purchasing an additional 21,791 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in TIER REIT in the 3rd quarter valued at about $223,000. Finally, Vanguard Group Inc raised its position in shares of TIER REIT by 3.8% during 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 buying an additional 195,055 shares in the last quarter. 72.16% of the stock is owned by institutional investors and hedge funds.
NYSE TIER traded up $0.33 during trading on Friday, reaching $28.17. The company’s stock had a trading volume of 740,155 shares, compared to its average volume of 465,129. TIER REIT Inc has a 1-year low of $19.22 and a 1-year high of $29.16. The stock has a market capitalization of $1.56 billion, a PE ratio of 17.50 and a beta of 1.05.
In other TIER REIT news, insider Schelin Telisa Webb sold 1,100 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.00, for a total transaction of $27,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott W. Fordham sold 3,125 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $24.51, for a total transaction of $76,593.75. The disclosure for this sale can be found here. Insiders sold a total of 31,250 shares of company stock worth $848,902 in the last three months. Insiders own 1.40% of the company’s stock.
A number of research firms recently commented on TIER. Zacks Investment Research downgraded shares of TIER REIT from a “hold” rating to a “sell” rating in a report on Thursday. BMO Capital Markets lifted their target price on shares of TIER REIT from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Robert W. Baird downgraded shares of TIER REIT from an “outperform” rating to a “neutral” rating and set a $27.26 target price on the stock. in a research report on Tuesday, March 26th. Finally, JMP Securities downgraded shares of TIER REIT from an “outperform” rating to a “market perform” rating in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $27.32.
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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