Connor Clark & Lunn Investment Management Ltd. grew its stake in TIER REIT Inc (NYSE:TIER) by 51.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,676 shares of the real estate investment trust’s stock after purchasing an additional 19,576 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of TIER REIT worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of TIER REIT by 16.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,103 shares of the real estate investment trust’s stock worth $1,168,000 after purchasing an additional 6,763 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of TIER REIT by 961.4% in the second quarter. Victory Capital Management Inc. now owns 678,761 shares of the real estate investment trust’s stock worth $16,140,000 after purchasing an additional 614,811 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of TIER REIT by 164.9% in the second quarter. Virginia Retirement Systems ET AL now owns 171,900 shares of the real estate investment trust’s stock worth $4,088,000 after purchasing an additional 107,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TIER REIT by 161.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,635 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 7,800 shares during the last quarter. Finally, Private Advisory Group LLC bought a new position in shares of TIER REIT in the second quarter worth about $250,000. Institutional investors own 70.46% of the company’s stock.
Shares of TIER REIT stock opened at $23.30 on Friday. TIER REIT Inc has a 1 year low of $17.04 and a 1 year high of $24.98. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.84 and a beta of 0.89.
TIER REIT (NYSE:TIER) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. TIER REIT had a net margin of 5.92% and a return on equity of 1.79%. The company had revenue of $54.83 million for the quarter, compared to analysts’ expectations of $53.90 million. On average, equities analysts anticipate that TIER REIT Inc will post 1.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.09%. The ex-dividend date is Thursday, December 13th. TIER REIT’s payout ratio is 45.86%.
Separately, Zacks Investment Research cut shares of TIER REIT from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $24.60.
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TIER REIT Company Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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