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 research report issued on Tuesday. The firm presently has a $21.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.90% from the stock’s previous close.
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 shares of TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th.
Shares of TIER REIT (TIER) traded down 0.43% during midday trading on Tuesday, hitting $18.52. 66,477 shares of the company’s stock were exchanged. The company has a 50-day moving average of $18.30 and a 200-day moving average of $17.63. The firm has a market cap of $886.05 million and a price-to-earnings ratio of 9.43. TIER REIT has a 52 week low of $14.06 and a 52 week high of $18.95.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The company had revenue of $54.55 million during the quarter, compared to analysts’ expectations of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. Equities research analysts expect that TIER REIT will post $2.24 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in TIER REIT by 7.2% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 482 shares during the last quarter. Acadian Asset Management LLC acquired a new position in TIER REIT during the first quarter worth $135,000. LSV Asset Management acquired a new position in TIER REIT during the first quarter worth $199,000. First Allied Advisory Services Inc. boosted its holdings in TIER REIT by 6.3% during the second quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 695 shares during the last quarter. Finally, Clinton Group Inc. acquired a new position in TIER REIT during the first quarter worth $210,000.
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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