TIER REIT Inc (TIER) Upgraded by Zacks Investment Research to Buy
TIER REIT Inc (OTCMKTS:TIER) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $21.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.93% from the stock’s current price.
According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “
A number of other analysts have also issued reports on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th. BMO Capital Markets set a $20.00 price target on TIER REIT and gave the company a “buy” rating in a report on Thursday, May 11th.
Shares of TIER REIT (TIER) traded up 0.06% during midday trading on Tuesday, reaching $17.97. The company’s stock had a trading volume of 37,314 shares. TIER REIT has a 52-week low of $14.06 and a 52-week high of $18.95. The stock has a market cap of $859.74 million and a price-to-earnings ratio of 9.15. The stock has a 50-day moving average price of $18.26 and a 200-day moving average price of $17.63.
TIER REIT (OTCMKTS:TIER) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $54.55 million during the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. Equities research analysts anticipate that TIER REIT will post $2.09 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of TIER. Dimensional Fund Advisors LP raised its stake 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 valued at $2,312,000 after buying an additional 74,680 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in TIER REIT by 9.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 64,440 shares of the real estate investment trust’s stock valued at $1,121,000 after buying an additional 5,643 shares during the last quarter. Teachers Advisors LLC raised its stake in TIER REIT by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 89,489 shares of the real estate investment trust’s stock valued at $1,556,000 after buying an additional 1,016 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in TIER REIT during the first quarter valued at about $135,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in TIER REIT during the first quarter valued at about $946,000.
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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