TIER REIT Inc (TIER) Stock Rating Lowered by Zacks Investment Research
TIER REIT Inc (OTCMKTS:TIER) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
Separately, TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th.
TIER REIT (OTCMKTS TIER) opened at 18.60 on Friday. The firm’s 50 day moving average is $18.28 and its 200 day moving average is $17.64. The stock has a market capitalization of $889.88 million and a P/E ratio of 9.47. TIER REIT has a 1-year low of $14.06 and a 1-year high of $18.95.
TIER REIT (OTCMKTS:TIER) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 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 the consensus estimate of $52.39 million. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. On average, equities research analysts anticipate that TIER REIT will post $2.24 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in TIER REIT by 7.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 482 shares during the period. Acadian Asset Management LLC purchased a new stake in TIER REIT during the 1st quarter valued at $135,000. LSV Asset Management purchased a new stake in TIER REIT during the 1st quarter valued at $199,000. Clinton Group Inc. purchased a new stake in TIER REIT during the 1st quarter valued at $210,000. Finally, First Allied Advisory Services Inc. raised its holdings in TIER REIT by 6.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 695 shares during the period.
TIER REIT Company Profile
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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