TIER REIT Inc (TIER) Announces Quarterly Dividend of $0.18
TIER REIT Inc (OTCMKTS:TIER) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, December 29th. This represents a $0.72 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Thursday, December 14th.
Shares of TIER REIT (OTCMKTS:TIER) traded up $0.09 during mid-day trading on Monday, reaching $19.69. The company’s stock had a trading volume of 84,043 shares, compared to its average volume of 168,406. TIER REIT has a fifty-two week low of $14.06 and a fifty-two week high of $20.00.
TIER REIT (OTCMKTS:TIER) last issued its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $52.39 million.
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A number of analysts recently commented on TIER shares. BidaskClub lowered TIER REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research lowered TIER REIT from a “buy” rating to a “sell” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.67.
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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