Analysts expect TIER REIT Inc (NYSE:TIER) to report earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for TIER REIT’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.35. TIER REIT posted earnings per share of $0.41 in the same quarter last year, which indicates a negative year over year growth rate of 12.2%. The company is scheduled to issue its next earnings report on Monday, August 6th.
According to Zacks, analysts expect that TIER REIT will report full-year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.52. For the next fiscal year, analysts anticipate that the business will report earnings of $1.57 per share, with EPS estimates ranging from $1.52 to $1.62. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow TIER REIT.
Several brokerages have issued reports on TIER. Robert W. Baird began coverage on shares of TIER REIT in a research note on Wednesday, May 30th. They set an “outperform” rating and a $23.00 target price on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of TIER REIT in a research note on Thursday, May 17th. ValuEngine cut shares of TIER REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. TheStreet cut shares of TIER REIT from a “c” rating to a “d+” rating in a research note on Wednesday, March 28th. Finally, JPMorgan Chase & Co. raised shares of TIER REIT from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.40.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.01%. TIER REIT’s dividend payout ratio is presently 45.86%.
Several hedge funds and other institutional investors have recently bought and sold shares of TIER. SG Americas Securities LLC purchased a new stake in TIER REIT in the 1st quarter valued at about $125,000. Meeder Asset Management Inc. raised its holdings in TIER REIT by 596.2% in the 1st quarter. Meeder Asset Management Inc. now owns 7,958 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 6,815 shares during the period. IFP Advisors Inc raised its holdings in TIER REIT by 66.0% in the 1st quarter. IFP Advisors Inc now owns 9,283 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 3,690 shares during the period. RiverPoint Capital Management LLC purchased a new stake in TIER REIT in the 4th quarter valued at about $204,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in TIER REIT in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 62.00% of the company’s stock.
About TIER REIT
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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