TIER REIT Inc (TIER) Cut to “Sell” at TheStreet
TIER REIT Inc (OTCMKTS:TIER) was downgraded by analysts at TheStreet from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Separately, Zacks Investment Research lowered TIER REIT from a “buy” rating to a “sell” rating in a research note on Wednesday, July 20th.
TIER REIT (OTCMKTS:TIER) remained flat at $14.38 during mid-day trading on Tuesday. 100,243 shares of the company were exchanged. The firm’s market capitalization is $686.59 million. The stock’s 50-day moving average price is $15.63 and its 200 day moving average price is $15.52. TIER REIT has a 12-month low of $12.52 and a 12-month high of $17.81.
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TIER REIT (OTCMKTS:TIER) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business earned $64.30 million during the quarter, compared to the consensus estimate of $70 million. Equities analysts anticipate that TIER REIT will post $1.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, September 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Wednesday, September 28th.
Large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in shares of TIER REIT by 14.3% in the third quarter. Creative Planning now owns 14,730 shares of the company’s stock valued at $227,000 after buying an additional 1,845 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of TIER REIT during the second quarter valued at approximately $625,000. Engine Capital Management LLC acquired a new position in shares of TIER REIT during the second quarter valued at approximately $13,736,000. Legal & General Group Plc increased its position in shares of TIER REIT by 6.8% in the second quarter. Legal & General Group Plc now owns 82,290 shares of the company’s stock valued at $1,258,000 after buying an additional 5,248 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of TIER REIT by 54.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 282,982 shares of the company’s stock valued at $4,339,000 after buying an additional 100,093 shares during the last quarter.
About TIER REIT
TIER REIT, Inc is a self-managed real estate investment trust. The Company is engaged in acquiring, developing and operating a portfolio of office properties in certain markets of the United States. The Company’s business is primarily conducted through Tier Operating Partnership LP. The Company holds interests in approximately 30 operating office properties, over two non-operating properties and a development property located in approximately 20 markets across the United States.
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