TIER REIT Inc (TIER) Upgraded to Buy by Zacks Investment Research
TIER REIT Inc (OTCMKTS:TIER) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $21.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.46% 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. “
Separately, TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th.
Shares of TIER REIT (TIER) opened at 18.84 on Tuesday. The firm has a market capitalization of $901.36 million and a P/E ratio of 9.59. TIER REIT has a one year low of $14.06 and a one year high of $18.95. The company has a 50-day moving average price of $18.30 and a 200 day moving average price of $17.64.
TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. The business had revenue of $54.55 million during the quarter, compared to analyst estimates of $52.39 million. Analysts expect that TIER REIT will post $2.24 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in TIER. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in TIER REIT in the 3rd quarter worth $120,000. Acadian Asset Management LLC bought a new position in TIER REIT in the 1st quarter worth $135,000. Weatherstone Capital Management bought a new position in TIER REIT in the 3rd quarter worth $177,000. Mizuho Trust & Banking Co. Ltd. bought a new position in TIER REIT in the 3rd quarter worth $180,000. Finally, Arete Wealth Advisors LLC raised its holdings in TIER REIT by 5.6% in the 1st quarter. Arete Wealth Advisors LLC now owns 11,431 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 604 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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