UBS Asset Management Americas Inc. raised its position in shares of TIER REIT Inc (OTCMKTS:TIER) by 21.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,998 shares of the real estate investment trust’s stock after buying an additional 13,558 shares during the period. UBS Asset Management Americas Inc. owned 0.16% of TIER REIT worth $1,354,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. GSA Capital Partners LLP bought a new position in TIER REIT during the fourth quarter worth about $314,000. Two Sigma Investments LP bought a new position in TIER REIT during the fourth quarter worth about $680,000. Finally, Metropolitan Life Insurance Co. NY raised its position in TIER REIT by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 35,726 shares of the real estate investment trust’s stock worth $621,000 after buying an additional 101 shares in the last quarter.
Shares of TIER REIT Inc (TIER) traded up 1.83% on Tuesday, hitting $18.37. The stock had a trading volume of 261,456 shares. The firm has a 50 day moving average price of $18.09 and a 200 day moving average price of $17.63. The company has a market capitalization of $878.10 million and a P/E ratio of 10.90. TIER REIT Inc has a one year low of $14.06 and a one year high of $18.95.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The company had revenue of $54.55 million during the quarter, compared to the consensus estimate of $52.39 million. TIER REIT had a net margin of 174.73% and a return on equity of 59.24%. On average, equities research analysts predict that TIER REIT Inc will post $1.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 14th.
Several brokerages have weighed in on TIER. Zacks Investment Research raised TIER REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. BMO Capital Markets set a $20.00 target price on TIER REIT and gave the stock a “buy” rating in a research report on Thursday, May 11th. Finally, TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th.
TIER REIT Company Profile
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.
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