TIER REIT Inc (TIER) Given Average Recommendation of “Hold” by Brokerages

Shares of TIER REIT Inc (NYSE:TIER) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.00.

A number of brokerages have issued reports on TIER. Zacks Investment Research lowered TIER REIT from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Cantor Fitzgerald began coverage on TIER REIT in a research note on Saturday, December 30th. They set an “overweight” rating and a $22.00 price target for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $20.00 price target on shares of TIER REIT in a research note on Thursday, November 9th. Finally, BidaskClub lowered TIER REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th.

TIER REIT (NYSE TIER) opened at $19.63 on Tuesday. TIER REIT has a fifty-two week low of $15.96 and a fifty-two week high of $20.72. The stock has a market capitalization of $939.16, a P/E ratio of 10.79 and a beta of 0.94.

TIER REIT (NYSE:TIER) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.53). TIER REIT had a net margin of 40.68% and a return on equity of 12.86%. sell-side analysts anticipate that TIER REIT will post 1.57 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, December 14th. TIER REIT’s payout ratio is currently 39.56%.

In other TIER REIT news, insider William J. Reister sold 7,500 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $19.62, for a total transaction of $147,150.00. Following the completion of the transaction, the insider now directly owns 82,736 shares of the company’s stock, valued at approximately $1,623,280.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of TIER REIT by 3.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 16,207 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 547 shares in the last quarter. First Allied Advisory Services Inc. boosted its stake in shares of TIER REIT by 6.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,711 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 695 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of TIER REIT by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,485 shares of the real estate investment trust’s stock worth $711,000 after acquiring an additional 1,157 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of TIER REIT by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 66,721 shares of the real estate investment trust’s stock worth $1,233,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of TIER REIT by 11.1% during the 2nd quarter. Voya Investment Management LLC now owns 23,063 shares of the real estate investment trust’s stock worth $426,000 after acquiring an additional 2,302 shares in the last quarter. 57.50% of the stock is owned by institutional investors and hedge funds.

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TIER REIT Company Profile

TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.

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