InfraREIT (HIFR) Upgraded to Hold by Zacks Investment Research

InfraREIT (NYSE:HIFR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “

Several other equities analysts have also recently commented on HIFR. BidaskClub cut shares of InfraREIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Royal Bank of Canada restated a “hold” rating and issued a $18.00 price objective on shares of InfraREIT in a report on Thursday, January 11th. Finally, Wolfe Research lowered shares of InfraREIT from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.33.

Shares of InfraREIT (NYSE HIFR) traded down $0.03 during mid-day trading on Thursday, reaching $18.30. 243,152 shares of the company’s stock traded hands, compared to its average volume of 220,139. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.25 and a quick ratio of 0.25. InfraREIT has a 52 week low of $16.00 and a 52 week high of $23.22. The stock has a market cap of $815.06, a PE ratio of 15.78, a PEG ratio of 2.86 and a beta of 0.44.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of InfraREIT by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock valued at $55,909,000 after purchasing an additional 190,249 shares in the last quarter. Reaves W H & Co. Inc. acquired a new stake in shares of InfraREIT in the 3rd quarter valued at $27,671,000. JPMorgan Chase & Co. raised its holdings in shares of InfraREIT by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 946,440 shares of the real estate investment trust’s stock valued at $21,371,000 after purchasing an additional 221,025 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of InfraREIT by 52.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 925,913 shares of the real estate investment trust’s stock valued at $20,713,000 after purchasing an additional 320,131 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of InfraREIT by 10.8% in the 2nd quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock valued at $16,697,000 after purchasing an additional 84,696 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

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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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