TIER REIT Inc (TIER) Given a $20.00 Price Target by BMO Capital Markets Analysts
TIER REIT Inc (OTCMKTS:TIER) has been given a $20.00 price target by research analysts at BMO Capital Markets in a report released on Thursday. The firm presently has a “buy” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 22.25% from the company’s previous close.
TIER has been the subject of several other reports. JMP Securities began coverage on TIER REIT in a report on Friday, January 27th. They set an “outperform” rating and a $21.00 price target for the company. Zacks Investment Research cut TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.25.
TIER REIT (OTCMKTS:TIER) traded down 0.73% during midday trading on Thursday, reaching $16.36. The company had a trading volume of 266,808 shares. The company’s 50-day moving average is $17.30 and its 200 day moving average is $17.06. The company has a market cap of $782.02 million and a PE ratio of 9.72. TIER REIT has a 52-week low of $14.06 and a 52-week high of $18.80.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Monday, February 13th. The real estate investment trust reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $54.08 million during the quarter, compared to the consensus estimate of $55.16 million. On average, equities research analysts forecast that TIER REIT will post ($0.33) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.72 annualized dividend and a yield of 4.40%.
In other TIER REIT news, Director R Kent Griffin, Jr. purchased 27,500 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were bought at an average price of $18.25 per share, for a total transaction of $501,875.00. Following the purchase, the director now owns 11,101 shares in the company, valued at approximately $202,593.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of TIER REIT during the first quarter worth $1,043,000. Morgan Stanley raised its stake in shares of TIER REIT by 68.0% in the first quarter. Morgan Stanley now owns 242,270 shares of the real estate investment trust’s stock worth $4,206,000 after buying an additional 98,048 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TIER REIT by 120.5% in the first quarter. Dimensional Fund Advisors LP now owns 293,134 shares of the real estate investment trust’s stock worth $5,089,000 after buying an additional 160,166 shares in the last quarter. Greenwich Investment Management Inc. purchased a new stake in shares of TIER REIT during the first quarter worth $1,428,000. Finally, Geode Capital Management LLC raised its stake in shares of TIER REIT by 4.4% in the first quarter. Geode Capital Management LLC now owns 475,543 shares of the real estate investment trust’s stock worth $8,255,000 after buying an additional 19,864 shares in the last quarter.
About TIER REIT
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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