TIER REIT (NYSE:TIER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, March 9th.
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. “
A number of other research analysts have also commented on TIER. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price target on shares of TIER REIT in a research note on Thursday, November 9th. Cantor Fitzgerald assumed coverage on shares of TIER REIT in a report on Friday, December 22nd. They issued an “overweight” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.33.
TIER REIT (NYSE:TIER) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.41 by ($0.62). The business had revenue of $54.63 million for the quarter, compared to the consensus estimate of $56.06 million. TIER REIT had a return on equity of 12.09% and a net margin of 38.94%. research analysts expect that TIER REIT will post 1.37 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in TIER REIT by 4.6% in the 4th quarter. BlackRock Inc. now owns 4,219,774 shares of the real estate investment trust’s stock valued at $86,040,000 after acquiring an additional 186,042 shares during the period. State Street Corp increased its position in shares of 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 buying an additional 37,056 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of TIER REIT by 14.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,264,053 shares of the real estate investment trust’s stock worth $25,775,000 after buying an additional 155,910 shares during the period. Schroder Investment Management Group increased its position in shares of TIER REIT by 9,612.2% during the fourth quarter. Schroder Investment Management Group now owns 602,349 shares of the real estate investment trust’s stock worth $12,282,000 after buying an additional 596,147 shares during the period. Finally, Hood River Capital Management LLC increased its position in shares of TIER REIT by 7.6% during the fourth quarter. Hood River Capital Management LLC now owns 585,947 shares of the real estate investment trust’s stock worth $11,947,000 after buying an additional 41,441 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers TIER REIT (NYSE:TIER) to Sell” was published by Week Herald and is owned by of Week Herald. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://weekherald.com/2018/03/17/tier-reit-tier-rating-lowered-to-sell-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TIER REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TIER REIT and related companies with MarketBeat.com's FREE daily email newsletter.