$49.89 Million in Sales Expected for TIER REIT Inc (TIER) This Quarter

Analysts forecast that TIER REIT Inc (NYSE:TIER) will report sales of $49.89 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TIER REIT’s earnings. The highest sales estimate is $51.62 million and the lowest is $48.16 million. TIER REIT reported sales of $54.14 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The business is scheduled to report its next earnings report on Tuesday, May 14th.

On average, analysts expect that TIER REIT will report full-year sales of $200.01 million for the current year, with estimates ranging from $199.12 million to $200.89 million. For the next financial year, analysts anticipate that the firm will report sales of $221.27 million, with estimates ranging from $217.56 million to $224.98 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for TIER REIT.

TIER REIT (NYSE:TIER) last posted its quarterly earnings data on Monday, February 11th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $54.49 million.

Several analysts have commented on the stock. BMO Capital Markets raised their target price on shares of TIER REIT from $24.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Robert W. Baird lowered 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. JMP Securities lowered TIER REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 25th. Finally, Zacks Investment Research raised TIER REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. TIER REIT presently has an average rating of “Hold” and an average target price of $27.32.

In related news, insider Schelin Telisa Webb sold 4,375 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $28.42, for a total transaction of $124,337.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott W. Fordham sold 11,250 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $28.45, for a total transaction of $320,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 31,250 shares of company stock valued at $848,902 over the last three months. 1.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in TIER REIT by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 719,389 shares of the real estate investment trust’s stock valued at $14,840,000 after acquiring an additional 83,357 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TIER REIT by 18.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 656,620 shares of the real estate investment trust’s stock valued at $13,546,000 after buying an additional 103,851 shares during the last quarter. Executive Wealth Management LLC bought a new position in TIER REIT during the fourth quarter valued at approximately $94,000. Public Employees Retirement System of Ohio boosted its stake in TIER REIT by 4.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 61,499 shares of the real estate investment trust’s stock valued at $1,269,000 after buying an additional 2,372 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in TIER REIT during the fourth quarter valued at approximately $4,796,000. 74.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TIER stock traded down $0.12 during mid-day trading on Friday, reaching $27.57. The company’s stock had a trading volume of 33,572 shares, compared to its average volume of 927,849. TIER REIT has a 1-year low of $18.52 and a 1-year high of $29.16. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 17.01 and a beta of 1.08.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, March 14th. TIER REIT’s payout ratio is 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.

See Also: What are gap-up stocks?

Get a free copy of the Zacks research report on TIER REIT (TIER)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TIER REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TIER REIT and related companies with MarketBeat.com's FREE daily email newsletter.