Metropolitan Life Insurance Co. NY reduced its position in shares of TIER REIT, Inc. (NYSE:TIER) by 73.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,243 shares of the real estate investment trust’s stock after selling 52,151 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in TIER REIT were worth $392,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TIER. Schroder Investment Management Group acquired a new position in shares of TIER REIT during the third quarter worth about $121,000. SG Americas Securities LLC acquired a new position in TIER REIT during the third quarter valued at approximately $179,000. Centaurus Financial Inc. acquired a new position in TIER REIT during the fourth quarter valued at approximately $202,000. RiverPoint Capital Management LLC acquired a new position in TIER REIT during the fourth quarter valued at approximately $204,000. Finally, JPMorgan Chase & Co. boosted its position in TIER REIT by 52.9% during the third quarter. JPMorgan Chase & Co. now owns 11,745 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 4,065 shares during the last quarter. 61.94% of the stock is owned by institutional investors.
Several research analysts recently commented on TIER shares. Cantor Fitzgerald set a $22.00 price target on TIER REIT and gave the company a “buy” rating in a research report on Friday, January 19th. Zacks Investment Research cut TIER REIT from a “hold” rating to a “sell” rating in a research report on Friday, March 9th. BMO Capital Markets set a $21.00 price target on TIER REIT and gave the company a “buy” rating in a research report on Monday, February 12th. TheStreet cut TIER REIT from a “c” rating to a “d+” rating in a research report on Wednesday, March 28th. Finally, ValuEngine cut TIER REIT from a “buy” rating to a “hold” rating in a research report on Monday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.33.
TIER REIT (NYSE:TIER) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.62). TIER REIT had a net margin of 38.94% and a return on equity of 12.09%. The business had revenue of $54.63 million during the quarter, compared to analyst estimates of $56.06 million. equities analysts predict that TIER REIT, Inc. will post 1.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a $0.18 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.89%. TIER REIT’s payout ratio is 45.86%.
TIER REIT Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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