TIER REIT Inc (NYSE:TIER) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Shareholders of record on Thursday, March 15th will be paid a dividend of 0.18 per share by the real estate investment trust on Thursday, March 29th. This represents a $0.72 annualized dividend and a yield of 4.18%. The ex-dividend date is Wednesday, March 14th.
TIER REIT has a dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect TIER REIT to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 49.3%.
Shares of TIER REIT (TIER) traded down $0.23 during trading hours on Thursday, reaching $17.24. The company’s stock had a trading volume of 310,949 shares, compared to its average volume of 206,823. The stock has a market cap of $841.56, a PE ratio of 9.69 and a beta of 0.76. TIER REIT has a 12 month low of $15.96 and a 12 month high of $20.72.
In other news, insider William J. Reister sold 7,500 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 82,736 shares in the company, valued at approximately $1,623,280.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
TIER has been the subject of several analyst reports. BidaskClub cut TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Cantor Fitzgerald set a $22.00 target price on TIER REIT and gave the company a “buy” rating in a report on Friday, January 19th. Zacks Investment Research cut TIER REIT from a “buy” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets restated 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 two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.00.
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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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