InfraREIT Inc. (HIFR) Receives Average Recommendation of “Buy” from Brokerages
Shares of InfraREIT Inc. (NYSE:HIFR) have received an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.00.
Separately, Wells Fargo & Co. reiterated a “buy” rating on shares of InfraREIT in a research report on Tuesday, August 16th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new position in InfraREIT during the second quarter valued at about $107,000. Adage Capital Partners GP L.L.C. bought a new position in InfraREIT during the first quarter valued at about $172,000. Strs Ohio raised its position in InfraREIT by 90.0% in the second quarter. Strs Ohio now owns 13,300 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 6,300 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in InfraREIT during the second quarter valued at about $257,000. Finally, Clinton Group Inc. raised its position in InfraREIT by 36.8% in the second quarter. Clinton Group Inc. now owns 15,876 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 4,271 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.
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Shares of InfraREIT (NYSE:HIFR) remained flat at $17.00 during mid-day trading on Thursday. The stock had a trading volume of 63,614 shares. The firm’s 50-day moving average price is $18.27 and its 200 day moving average price is $17.45. The firm has a market capitalization of $743.99 million, a P/E ratio of 15.86 and a beta of 0.34. InfraREIT has a 12-month low of $13.61 and a 12-month high of $25.21.
InfraREIT (NYSE:HIFR) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.30 earnings per share for the quarter. InfraREIT had a return on equity of 7.54% and a net margin of 29.22%. The firm earned $33.79 million during the quarter, compared to analysts’ expectations of $171.65 million.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 5.88%. InfraREIT’s dividend payout ratio is currently 94.34%.
InfraREIT, Inc is a real estate investment trust. The Company owns electric transmission and distribution (T&D) assets in Texas. Its segment is rate-regulated electric T&D assets. The Company’s T&D assets are located in the Texas Panhandle near Amarillo; the Permian Basin in and around Stanton, Central Texas; around Brady, Northeast Texas; in and around Celeste, and South Texas near McAllen.
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