Acadian Asset Management LLC Boosts Stake in InfraREIT, Inc. (HIFR)
Acadian Asset Management LLC increased its position in InfraREIT, Inc. (NYSE:HIFR) by 310.3% during the second quarter, Holdings Channel reports. The institutional investor owned 19,643 shares of the real estate investment trust’s stock after buying an additional 14,856 shares during the period. Acadian Asset Management LLC’s holdings in InfraREIT were worth $376,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. TFS Capital LLC raised its position in shares of InfraREIT by 87.4% in the first quarter. TFS Capital LLC now owns 75,116 shares of the real estate investment trust’s stock worth $1,352,000 after buying an additional 35,028 shares in the last quarter. Ameriprise Financial Inc. raised its position in InfraREIT by 156.8% in the first quarter. Ameriprise Financial Inc. now owns 42,914 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 26,204 shares during the period. Karp Capital Management Corp acquired a new position in InfraREIT during the first quarter valued at approximately $418,000. New Amsterdam Partners LLC NY acquired a new position in InfraREIT during the first quarter valued at approximately $5,378,000. Finally, Bank of New York Mellon Corp raised its position in InfraREIT by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 378,418 shares of the real estate investment trust’s stock valued at $6,811,000 after buying an additional 25,264 shares during the period. Hedge funds and other institutional investors own 84.15% of the company’s stock.
InfraREIT, Inc. (NYSE:HIFR) traded up 0.33% during trading on Tuesday, reaching $21.48. 54,494 shares of the company’s stock traded hands. InfraREIT, Inc. has a one year low of $14.59 and a one year high of $23.12. The firm has a market capitalization of $940.35 million, a PE ratio of 18.07 and a beta of 0.49. The company has a 50-day moving average price of $20.48 and a 200 day moving average price of $18.74.
InfraREIT (NYSE:HIFR) last announced 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. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The business had revenue of $40.42 million for the quarter. On average, analysts anticipate that InfraREIT, Inc. will post $1.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.00 annualized dividend and a yield of 4.67%. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.
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Several equities analysts have commented on HIFR shares. Zacks Investment Research upgraded shares of InfraREIT from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Wolfe Research upgraded shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research report on Monday, April 24th. BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $22.00 price objective on shares of InfraREIT in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $23.50.
In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of InfraREIT stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $19.79, for a total transaction of $989,500.00. Following the sale, the insider now owns 5,526,235 shares of the company’s stock, valued at approximately $109,364,190.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of InfraREIT stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the sale, the insider now directly owns 5,463,489 shares in the company, valued at approximately $107,412,193.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 853,841 shares of company stock worth $18,376,891. 28.00% of the stock is currently owned by corporate insiders.
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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