TIER REIT (NYSE:TIER) has been assigned a $21.00 price objective by investment analysts at BMO Capital Markets in a report released on Monday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would indicate a potential upside of 18.31% from the stock’s current price.
Several other research firms have also weighed in on TIER. BidaskClub lowered shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research lowered shares of TIER REIT from a “buy” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Cantor Fitzgerald assumed coverage on shares of TIER REIT in a report on Friday, December 22nd. They set an “overweight” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. TIER REIT has a consensus rating of “Hold” and a consensus target price of $21.33.
TIER REIT (NYSE TIER) opened at $17.75 on Monday. TIER REIT has a 1 year low of $15.96 and a 1 year high of $20.72. The stock has a market cap of $848.74, a P/E ratio of 11.37 and a beta of 0.76.
A number of institutional investors have recently added to or reduced their stakes in TIER. Schroder Investment Management Group grew its stake in TIER REIT by 9,612.2% in the 4th quarter. Schroder Investment Management Group now owns 602,349 shares of the real estate investment trust’s stock valued at $12,282,000 after acquiring an additional 596,147 shares during the period. APG Asset Management US Inc. acquired a new stake in TIER REIT in the 4th quarter valued at $8,917,000. Cbre Clarion Securities LLC acquired a new stake in TIER REIT in the 4th quarter valued at $4,451,000. Deprince Race & Zollo Inc. acquired a new stake in TIER REIT in the 3rd quarter valued at $4,147,000. Finally, Schwab Charles Investment Management Inc. grew its stake in TIER REIT by 24.0% in the 3rd 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 acquiring an additional 214,644 shares during the period. 58.54% of the stock is currently owned by hedge funds and other institutional investors.
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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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