Metropolitan Life Insurance Co. NY Has $533,000 Stake in InfraREIT, Inc. (HIFR)
Metropolitan Life Insurance Co. NY maintained its position in shares of InfraREIT, Inc. (NYSE:HIFR) during the first quarter, Holdings Channel reports. The firm owned 29,596 shares of the real estate investment trust’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in InfraREIT were worth $533,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Prudential Financial Inc. raised its position in shares of InfraREIT by 49.7% in the first quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock valued at $10,931,000 after buying an additional 201,600 shares during the period. Ecofin Ltd. raised its position in shares of InfraREIT by 44.0% in the first quarter. Ecofin Ltd. now owns 245,094 shares of the real estate investment trust’s stock valued at $4,412,000 after buying an additional 74,832 shares during the period. American International Group Inc. raised its position in shares of InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 1,623 shares during the period. Norges Bank acquired a new position in shares of InfraREIT during the fourth quarter valued at approximately $5,838,000. Finally, Advisors Asset Management Inc. raised its position in shares of InfraREIT by 218.3% in the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 7,885 shares during the period. 84.01% of the stock is currently owned by institutional investors and hedge funds.
InfraREIT, Inc. (NYSE HIFR) traded up 0.362% during trading on Friday, reaching $20.775. The company had a trading volume of 98,817 shares. InfraREIT, Inc. has a 12 month low of $14.59 and a 12 month high of $23.12. The firm’s 50 day moving average is $20.38 and its 200-day moving average is $18.65. The company has a market capitalization of $909.49 million, a P/E ratio of 17.473 and a beta of 0.49.
InfraREIT (NYSE:HIFR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.12. The business had revenue of $40.42 million during the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. On average, equities analysts expect that InfraREIT, Inc. will post $1.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Wednesday, June 28th. InfraREIT’s dividend payout ratio is currently 83.33%.
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Several equities analysts have recently commented on HIFR shares. Zacks Investment Research raised InfraREIT from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Wolfe Research raised InfraREIT from a “market perform” rating to an “outperform” rating in a research note on Monday, April 24th. BidaskClub raised InfraREIT from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of InfraREIT in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.50.
In related news, major shareholder Insurance & Annuity A. Teachers sold 42,735 shares of InfraREIT stock in a transaction on Friday, July 28th. The stock was sold at an average price of $22.49, for a total value of $961,110.15. Following the transaction, the insider now owns 4,827,358 shares in the company, valued at $108,567,281.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 54,964 shares of InfraREIT stock in a transaction on Friday, August 4th. The shares were sold at an average price of $21.11, for a total value of $1,160,290.04. Following the completion of the transaction, the insider now owns 4,722,394 shares in the company, valued at approximately $99,689,737.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 853,841 shares of company stock valued at $18,376,891. Company insiders own 28.00% of the company’s stock.
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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