TIER REIT Inc (TIER) Stock Rating Lowered by TheStreet
TIER REIT Inc (OTCMKTS:TIER) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
Separately, Zacks Investment Research lowered shares of TIER REIT from a “buy” rating to a “sell” rating in a research report on Wednesday, July 20th.
Shares of TIER REIT (OTCMKTS:TIER) remained flat at $14.38 during mid-day trading on Tuesday. The company had a trading volume of 100,243 shares. The company’s 50 day moving average is $15.63 and its 200-day moving average is $15.52. TIER REIT has a 12 month low of $12.52 and a 12 month high of $17.81. The company’s market cap is $686.59 million.
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TIER REIT (OTCMKTS:TIER) last released its quarterly earnings results on Monday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $64.30 million for the quarter, compared to the consensus estimate of $70 million. Equities analysts forecast that TIER REIT will post $1.56 earnings per share 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 given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend was Wednesday, September 28th.
Institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in 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. Stifel Financial Corp acquired a new position in TIER REIT during the second quarter valued at $287,000. Metropolitan Life Insurance Co. NY acquired a new position in TIER REIT during the second quarter valued at $625,000. Legal & General Group Plc increased its position in 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 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.
TIER REIT Company Profile
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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