MetLife Investment Advisors LLC purchased a new stake in TIER REIT, Inc. (NYSE:TIER) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,342 shares of the real estate investment trust’s stock, valued at approximately $456,000.
Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its stake in TIER REIT by 277.3% in the 3rd quarter. Wells Fargo & Company MN now owns 259,356 shares of the real estate investment trust’s stock valued at $5,006,000 after buying an additional 190,613 shares during the last quarter. RiverPoint Capital Management LLC acquired a new stake in TIER REIT in the 4th quarter valued at $204,000. Bank of New York Mellon Corp increased its stake in TIER REIT by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 389,293 shares of the real estate investment trust’s stock valued at $7,513,000 after buying an additional 7,650 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in TIER REIT in the 4th quarter valued at $335,000. Finally, LSV Asset Management increased its stake in TIER REIT by 21.6% in the 4th quarter. LSV Asset Management now owns 417,132 shares of the real estate investment trust’s stock valued at $8,505,000 after buying an additional 73,958 shares during the last quarter. Hedge funds and other institutional investors own 61.94% of the company’s stock.
TIER has been the topic of several recent research reports. Cantor Fitzgerald set a $22.00 price target on shares of TIER REIT and gave the company a “buy” rating in a research note on Friday, January 19th. Zacks Investment Research lowered shares of TIER REIT from a “hold” rating to a “sell” rating in a research note on Friday, March 9th. BMO Capital Markets set a $21.00 price target on shares of TIER REIT and gave the company a “buy” rating in a research note on Monday, February 12th. TheStreet lowered shares of TIER REIT from a “c” rating to a “d+” rating in a research note on Wednesday, March 28th. Finally, ValuEngine lowered shares of TIER REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.33.
TIER REIT (NYSE:TIER) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.62). The firm had revenue of $54.63 million for the quarter, compared to analyst estimates of $56.06 million. TIER REIT had a return on equity of 12.09% and a net margin of 38.94%. research analysts predict that TIER REIT, Inc. will post 1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.84%. TIER REIT’s dividend payout ratio is presently 45.86%.
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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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