Hodges Capital Management Inc. Sells 9,993 Shares of TIER REIT Inc (TIER)

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Hodges Capital Management Inc. cut its stake in TIER REIT Inc (NYSE:TIER) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,833 shares of the real estate investment trust’s stock after selling 9,993 shares during the quarter. Hodges Capital Management Inc.’s holdings in TIER REIT were worth $2,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in TIER REIT by 12.3% during the first quarter. JPMorgan Chase & Co. now owns 52,641 shares of the real estate investment trust’s stock worth $973,000 after buying an additional 5,762 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TIER REIT by 8.3% during the first quarter. Dimensional Fund Advisors LP now owns 494,184 shares of the real estate investment trust’s stock worth $9,133,000 after buying an additional 37,932 shares in the last quarter. LPL Financial LLC grew its position in TIER REIT by 94.8% during the first quarter. LPL Financial LLC now owns 35,040 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 17,055 shares in the last quarter. Millennium Management LLC grew its position in TIER REIT by 50.3% during the first quarter. Millennium Management LLC now owns 277,490 shares of the real estate investment trust’s stock worth $5,128,000 after buying an additional 92,907 shares in the last quarter. Finally, Legal & General Group Plc grew its position in TIER REIT by 7.5% during the first quarter. Legal & General Group Plc now owns 143,845 shares of the real estate investment trust’s stock worth $2,658,000 after buying an additional 10,079 shares in the last quarter. Institutional investors own 64.95% of the company’s stock.

Shares of TIER stock opened at $21.66 on Tuesday. TIER REIT Inc has a 12-month low of $17.04 and a 12-month high of $24.98. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 13.84 and a beta of 0.75.

TIER REIT (NYSE:TIER) last issued its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.53). TIER REIT had a negative return on equity of 2.59% and a negative net margin of 8.33%. The firm had revenue of $53.99 million for the quarter, compared to the consensus estimate of $52.00 million. On average, sell-side analysts forecast that TIER REIT Inc will post 1.57 EPS for the current year.

Several research firms recently commented on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, July 23rd. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, August 1st. Robert W. Baird boosted their target price on TIER REIT from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, JMP Securities boosted their target price on TIER REIT from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 8th. Seven equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $24.60.

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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Institutional Ownership by Quarter for TIER REIT (NYSE:TIER)

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