BidaskClub Lowers InfraREIT, Inc. (HIFR) to Buy
InfraREIT, Inc. (NYSE:HIFR) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
Several other equities analysts also recently commented on HIFR. Zacks Investment Research downgraded shares of InfraREIT from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 price objective on shares of InfraREIT in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. InfraREIT currently has an average rating of “Buy” and an average price target of $23.50.
InfraREIT (NYSE:HIFR) traded up 0.27% during mid-day trading on Thursday, reaching $22.45. 38,644 shares of the company’s stock traded hands. The firm has a market cap of $982.82 million, a PE ratio of 18.88 and a beta of 0.49. InfraREIT has a 1-year low of $14.59 and a 1-year high of $22.74. The firm has a 50 day moving average of $22.44 and a 200 day moving average of $18.61.
InfraREIT (NYSE:HIFR) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.12). InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The company had revenue of $40.42 million during the quarter. Analysts forecast that InfraREIT will post $1.28 EPS for the current year.
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In related news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $19.72, for a total value of $1,288,425.92. Following the transaction, the insider now directly owns 5,398,153 shares in the company, valued at $106,451,577.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $19.79, for a total transaction of $989,500.00. Following the completion of the transaction, the insider now owns 5,526,235 shares in the company, valued at $109,364,190.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,277,929 shares of company stock worth $27,774,665. Corporate insiders own 28.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HIFR. LSV Asset Management acquired a new position in shares of InfraREIT in the second quarter valued at about $11,079,000. Blackstart Capital LP acquired a new position in shares of InfraREIT in the first quarter valued at about $7,003,000. FMR LLC grew its stake in shares of InfraREIT by 619.8% in the second quarter. FMR LLC now owns 416,693 shares of the real estate investment trust’s stock valued at $7,980,000 after acquiring an additional 358,800 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of InfraREIT by 49.7% in the first quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock valued at $10,931,000 after acquiring an additional 201,600 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of InfraREIT by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after acquiring an additional 190,748 shares in the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its 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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