Vanguard Group Inc. grew its holdings in shares of InfraREIT, Inc. (NYSE:HIFR) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,919,574 shares of the real estate investment trust’s stock after buying an additional 190,249 shares during the quarter. Vanguard Group Inc. owned 6.67% of InfraREIT worth $55,909,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in HIFR. State Street Corp grew its holdings in InfraREIT by 10.5% during the 1st quarter. State Street Corp now owns 787,301 shares of the real estate investment trust’s stock valued at $14,173,000 after purchasing an additional 74,806 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in InfraREIT by 35.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after purchasing an additional 190,748 shares during the last quarter. Bank of America Corp DE grew its holdings in InfraREIT by 2.4% during the 1st quarter. Bank of America Corp DE now owns 615,191 shares of the real estate investment trust’s stock valued at $11,074,000 after purchasing an additional 14,493 shares during the last quarter. LSV Asset Management bought a new position in InfraREIT during the 2nd quarter valued at about $11,079,000. Finally, Geode Capital Management LLC grew its holdings in InfraREIT by 7.0% during the 1st quarter. Geode Capital Management LLC now owns 489,404 shares of the real estate investment trust’s stock valued at $8,808,000 after purchasing an additional 31,994 shares during the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.
In related news, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $22.43, for a total value of $1,796,373.84. Following the sale, the insider now owns 4,298,306 shares in the company, valued at $96,411,003.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 150,000 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $22.14, for a total value of $3,321,000.00. Following the completion of the sale, the insider now owns 4,422,394 shares in the company, valued at approximately $97,911,803.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,088 shares of company stock worth $9,397,774. Company insiders own 28.00% of the company’s stock.
Several equities analysts recently commented on the stock. Evercore ISI reiterated an “outperform” rating and set a $24.00 price target on shares of InfraREIT in a report on Saturday, September 30th. BidaskClub downgraded shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $22.00 price target on shares of InfraREIT in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $23.67.
InfraREIT, Inc. (NYSE HIFR) opened at $22.33 on Friday. 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 posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.12). The company had revenue of $40.42 million for the quarter. InfraREIT had a return on equity of 6.46% and a net margin of 27.06%. sell-side analysts predict that InfraREIT, Inc. will post 1.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Friday, September 29th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. InfraREIT’s dividend payout ratio is currently 86.21%.
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.
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