InfraREIT, Inc. (HIFR) Downgraded by BidaskClub

BidaskClub lowered shares of InfraREIT, Inc. (NYSE:HIFR) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other research analysts have also recently commented on HIFR. Evercore ISI reiterated an outperform rating and set a $24.00 price target on shares of InfraREIT in a research report on Saturday, September 30th. Royal Bank Of Canada reiterated a hold rating and set a $22.00 price target on shares of InfraREIT in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of InfraREIT from a buy rating to a hold rating in a research report on Monday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. InfraREIT has an average rating of Hold and an average price target of $23.67.

Shares of InfraREIT (HIFR) opened at $22.33 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.35 and a current ratio of 0.35.

InfraREIT (NYSE:HIFR) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12). InfraREIT had a net margin of 27.06% and a return on equity of 6.46%. The business had revenue of $40.42 million for the quarter. equities research analysts forecast that InfraREIT will post 1.4 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Friday, September 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Thursday, September 28th. InfraREIT’s dividend payout ratio is 86.21%.

In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 150,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $21.98, for a total transaction of $3,297,000.00. Following the completion of the transaction, the insider now owns 4,572,394 shares of the company’s stock, valued at $100,501,220.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $22.43, for a total value of $1,796,373.84. Following the transaction, the insider now directly owns 4,298,306 shares of the company’s stock, valued at approximately $96,411,003.58. The disclosure for this sale can be found here. Insiders sold 424,088 shares of company stock worth $9,397,774 in the last 90 days. Company insiders own 28.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of InfraREIT in the 3rd quarter worth about $122,000. Principal Financial Group Inc. purchased a new position in shares of InfraREIT in the 2nd quarter worth about $206,000. First Trust Advisors LP purchased a new position in shares of InfraREIT in the 3rd quarter worth about $231,000. Advisors Asset Management Inc. raised its position in shares of InfraREIT by 35.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 15,574 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 4,077 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of InfraREIT by 22.7% in the 2nd quarter. Tudor Investment Corp ET AL now owns 16,128 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 2,984 shares during the last quarter. 84.25% of the stock is owned by hedge funds and other institutional investors.

About InfraREIT

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.

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