InfraREIT, Inc. (HIFR) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of InfraREIT, Inc. (NYSE:HIFR) by 7.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 489,404 shares of the real estate investment trust’s stock after buying an additional 31,994 shares during the period. Geode Capital Management LLC owned 1.12% of InfraREIT worth $8,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIFR. Prudential Financial Inc. boosted its position in InfraREIT by 49.7% in the first quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock worth $10,931,000 after buying an additional 201,600 shares during the last quarter. Pensionfund Sabic boosted its position in shares of InfraREIT by 6.3% in the first quarter. Pensionfund Sabic now owns 33,720 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 2,000 shares during the last quarter. Ecofin Ltd. boosted its position in shares of InfraREIT by 44.0% in the first quarter. Ecofin Ltd. now owns 245,094 shares of the real estate investment trust’s stock worth $4,412,000 after buying an additional 74,832 shares during the last quarter. American International Group Inc. boosted its position in shares of InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 1,623 shares during the last quarter. Finally, Norges Bank bought a new position in shares of InfraREIT during the fourth quarter worth about $5,838,000. Institutional investors own 84.15% of the company’s stock.

Shares of InfraREIT, Inc. (NYSE:HIFR) opened at 20.72 on Friday. The stock has a market capitalization of $907.08 million, a P/E ratio of 17.43 and a beta of 0.49. The company has a 50 day moving average price of $20.68 and a 200-day moving average price of $18.84. InfraREIT, Inc. has a 52-week low of $14.59 and a 52-week high of $23.12.

InfraREIT (NYSE:HIFR) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.12. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The company had revenue of $40.42 million for the quarter. On average, analysts predict that InfraREIT, Inc. will post $1.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Wednesday, June 28th. InfraREIT’s dividend payout ratio is presently 83.33%.

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A number of analysts have commented on the company. BidaskClub lowered InfraREIT from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, July 26th. Royal Bank Of Canada reissued a “hold” rating and set a $22.00 price target on shares of InfraREIT in a report on Wednesday, August 9th. Finally, Wolfe Research raised InfraREIT from a “market perform” rating to an “outperform” rating in a report on Monday, April 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $23.50.

In other news, major shareholder Insurance & Annuity A. Teachers sold 54,964 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $21.11, for a total value of $1,160,290.04. Following the transaction, the insider now directly owns 4,722,394 shares in the company, valued at approximately $99,689,737.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the completion of the transaction, the insider now owns 5,463,489 shares in the company, valued at $107,412,193.74. The disclosure for this sale can be found here. In the last three months, insiders sold 853,841 shares of company stock worth $18,376,891. Insiders own 28.00% of the company’s stock.

InfraREIT Company Profile

InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen.

Institutional Ownership by Quarter for InfraREIT (NYSE:HIFR)

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