Macquarie Group Ltd. lifted its holdings in TIER REIT Inc (NYSE:TIER) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the real estate investment trust’s stock after purchasing an additional 5,900 shares during the quarter. Macquarie Group Ltd.’s holdings in TIER REIT were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. TRUE Private Wealth Advisors purchased a new position in shares of TIER REIT in the third quarter worth $108,000. First Trust Advisors LP purchased a new position in shares of TIER REIT in the third quarter worth $218,000. Envestnet Asset Management Inc. purchased a new position in shares of TIER REIT in the third quarter worth $223,000. Paloma Partners Management Co purchased a new position in shares of TIER REIT in the second quarter worth $242,000. Finally, People s United Financial Inc. purchased a new position in shares of TIER REIT in the third quarter worth $284,000. Hedge funds and other institutional investors own 70.46% of the company’s stock.
TIER has been the subject of several recent analyst reports. ValuEngine cut TIER REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. Zacks Investment Research cut TIER REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. TIER REIT currently has a consensus rating of “Buy” and an average target price of $24.60.
TIER REIT (NYSE:TIER) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $54.83 million during the quarter, compared to analysts’ expectations of $53.90 million. TIER REIT had a return on equity of 1.79% and a net margin of 5.92%. As a group, equities analysts forecast that TIER REIT Inc will post 1.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Investors of record on Friday, December 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, December 13th. TIER REIT’s dividend payout ratio (DPR) is presently 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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