JPMorgan Chase & Co. Has $21.37 Million Stake in InfraREIT Inc (HIFR)
JPMorgan Chase & Co. grew its stake in shares of InfraREIT Inc (NYSE:HIFR) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 946,440 shares of the real estate investment trust’s stock after purchasing an additional 221,025 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.16% of InfraREIT worth $21,371,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of InfraREIT by 7.0% during the second quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock valued at $55,909,000 after acquiring an additional 190,249 shares in the last quarter. Reaves W H & Co. Inc. bought a new position in shares of InfraREIT during the third quarter valued at approximately $27,671,000. State Street Corp raised its holdings in shares of InfraREIT by 10.8% during the second quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock valued at $16,697,000 after acquiring an additional 84,696 shares in the last quarter. LSV Asset Management bought a new position in shares of InfraREIT during the second quarter valued at approximately $11,079,000. Finally, Northern Trust Corp raised its holdings in shares of InfraREIT by 4.0% during the second quarter. Northern Trust Corp now owns 464,166 shares of the real estate investment trust’s stock valued at $8,889,000 after acquiring an additional 18,038 shares in the last quarter. 84.66% of the stock is owned by hedge funds and other institutional investors.
InfraREIT Inc (NYSE:HIFR) opened at $20.39 on Friday. 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 Inc has a twelve month low of $16.00 and a twelve month high of $23.22.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 4.90%. InfraREIT’s dividend payout ratio (DPR) is 86.21%.
A number of equities analysts recently commented on the company. Evercore ISI restated an “outperform” rating and set a $24.00 target price on shares of InfraREIT in a report on Saturday, September 30th. BidaskClub upgraded InfraREIT from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research downgraded InfraREIT from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. InfraREIT presently has a consensus rating of “Hold” and an average target price of $23.67.
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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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