InfraREIT, Inc. (NYSE:HIFR) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.00.

HIFR has been the topic of several analyst reports. BidaskClub lowered InfraREIT from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Zacks Investment Research raised InfraREIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Finally, Evercore ISI reissued an “outperform” rating and issued a $24.00 target price on shares of InfraREIT in a research note on Saturday.

In other news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the sale, the insider now owns 5,398,153 shares of the company’s stock, valued at $106,451,577.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $22.43, for a total value of $1,796,373.84. Following the sale, the insider now directly owns 4,298,306 shares in the company, valued at approximately $96,411,003.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,277,929 shares of company stock worth $27,774,665. 28.00% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of HIFR. LSV Asset Management bought a new position in shares of InfraREIT during the second quarter worth about $11,079,000. Blackstart Capital LP bought a new position in shares of InfraREIT during the first quarter worth about $7,003,000. FMR LLC grew its holdings in shares of InfraREIT by 619.8% during the second quarter. FMR LLC now owns 416,693 shares of the real estate investment trust’s stock worth $7,980,000 after buying an additional 358,800 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of InfraREIT by 49.7% during the first quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock worth $10,931,000 after buying an additional 201,600 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of InfraREIT by 35.7% during the second quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock worth $13,892,000 after buying an additional 190,748 shares in the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.

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Shares of InfraREIT (NYSE:HIFR) traded down 0.93% during trading on Friday, reaching $22.37. The company had a trading volume of 184,413 shares. InfraREIT has a 52-week low of $14.59 and a 52-week high of $23.06. The company has a 50 day moving average of $22.48 and a 200-day moving average of $22.48. The firm has a market capitalization of $979.31 million, a P/E ratio of 18.81 and a beta of 0.49.

InfraREIT (NYSE:HIFR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.12). InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The company had revenue of $40.42 million during the quarter. Equities analysts expect that InfraREIT will post $1.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, September 28th. InfraREIT’s dividend payout ratio is currently 83.33%.

InfraREIT Company Profile

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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