Kayne Anderson Capital Advisors LP Has $8.34 Million Stake in InfraREIT, Inc. (HIFR)
Kayne Anderson Capital Advisors LP decreased its position in shares of InfraREIT, Inc. (NYSE:HIFR) by 25.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,111 shares of the real estate investment trust’s stock after selling 130,500 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.85% of InfraREIT worth $8,341,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in InfraREIT by 29.8% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 122,500 shares of the real estate investment trust’s stock valued at $2,740,000 after purchasing an additional 28,100 shares in the last quarter. Reaves W H & Co. Inc. bought a new stake in InfraREIT during the 3rd quarter worth approximately $27,671,000. Ameriprise Financial Inc. increased its holdings in InfraREIT by 416.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 211,609 shares of the real estate investment trust’s stock worth $4,734,000 after acquiring an additional 170,614 shares during the period. ClariVest Asset Management LLC increased its holdings in InfraREIT by 3.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 193,600 shares of the real estate investment trust’s stock worth $4,331,000 after acquiring an additional 6,600 shares during the period. Finally, SG Americas Securities LLC bought a new stake in InfraREIT during the 3rd quarter worth approximately $174,000. 87.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of InfraREIT, Inc. (HIFR) traded down $0.05 during trading hours on Thursday, hitting $21.13. The stock had a trading volume of 72,400 shares, compared to its average volume of 186,943. InfraREIT, Inc. has a 52-week low of $16.00 and a 52-week high of $23.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.25 and a current ratio of 0.25.
In related news, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $22.35, for a total transaction of $983,400.00. Following the completion of the sale, the insider now directly owns 4,378,394 shares of the company’s stock, valued at approximately $97,857,105.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 of the company’s stock, valued at $96,411,003.58. The disclosure for this sale can be found here. Company insiders own 28.00% of the company’s stock.
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A number of brokerages have recently commented on HIFR. Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, July 26th. BidaskClub lowered shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reissued a “hold” rating and set a $22.00 price target on shares of InfraREIT in a research report on Wednesday, August 9th. Finally, Evercore ISI reissued an “outperform” rating and set a $24.00 price target on shares of InfraREIT in a research report on Saturday, September 30th. Two equities research analysts have rated the stock with a sell rating, one has 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 $23.67.
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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