TIER REIT (TIER) Cut to “Sell” at Zacks Investment Research

TIER REIT (NYSE:TIER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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. “

Several other equities research analysts have also recently issued reports on TIER. Cantor Fitzgerald assumed coverage on TIER REIT in a report on Friday, December 22nd. They issued an “overweight” rating and a $22.00 target price on the stock. BidaskClub cut TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 target price on shares of TIER REIT in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.00.

Shares of TIER REIT (NYSE TIER) traded down $0.47 during mid-day trading on Friday, hitting $19.66. The stock had a trading volume of 227,300 shares, compared to its average volume of 174,433. TIER REIT has a 1 year low of $15.96 and a 1 year high of $20.72. The company has a market capitalization of $963.08, a PE ratio of 10.80 and a beta of 0.94.

In other TIER REIT news, insider William J. Reister sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total transaction of $147,150.00. Following the sale, the insider now directly owns 82,736 shares of the company’s stock, valued at $1,623,280.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in TIER REIT by 0.6% during the second quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock worth $108,467,000 after acquiring an additional 32,897 shares during the last quarter. State Street Corp increased its stake in TIER REIT by 2.4% during the second quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock worth $29,634,000 after acquiring an additional 37,056 shares during the last quarter. Private Management Group Inc. increased its stake in TIER REIT by 19.5% during the second quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock worth $20,994,000 after acquiring an additional 185,440 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of TIER REIT by 24.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,108,143 shares of the real estate investment trust’s stock valued at $21,388,000 after buying an additional 214,644 shares during the period. Finally, Engine Capital Management LLC boosted its position in shares of TIER REIT by 4,139.5% during the first quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock valued at $15,733,000 after buying an additional 884,900 shares during the period. 57.50% of the stock is currently owned by institutional investors.

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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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