TIER REIT Inc (OTCMKTS:TIER) Stake Boosted by Bessemer Group Inc.
Bessemer Group Inc. boosted its position in TIER REIT Inc (OTCMKTS:TIER) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,100 shares of the real estate investment trust’s stock after buying an additional 4,900 shares during the period. Bessemer Group Inc.’s holdings in TIER REIT were worth $1,628,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of TIER REIT by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,836,570 shares of the real estate investment trust’s stock worth $101,323,000 after buying an additional 159,282 shares during the period. State Street Corp raised its position in shares of TIER REIT by 3.9% in the first quarter. State Street Corp now owns 1,566,487 shares of the real estate investment trust’s stock worth $27,197,000 after buying an additional 59,520 shares during the period. Engine Capital Management LLC raised its position in shares of TIER REIT by 4,139.5% in the first quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock worth $15,733,000 after buying an additional 884,900 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of TIER REIT by 30.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 632,522 shares of the real estate investment trust’s stock worth $10,981,000 after buying an additional 149,375 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in shares of TIER REIT during the first quarter worth about $10,436,000.
TIER REIT Inc (OTCMKTS TIER) opened at 17.89 on Friday. TIER REIT Inc has a 52 week low of $14.06 and a 52 week high of $18.95. The stock’s 50 day moving average is $18.16 and its 200-day moving average is $17.63. The firm has a market capitalization of $855.91 million and a price-to-earnings ratio of 9.11.
TIER REIT (OTCMKTS:TIER) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The firm had revenue of $54.55 million for the quarter, compared to the consensus estimate of $52.39 million. TIER REIT had a net margin of 174.73% and a return on equity of 59.24%. On average, equities research analysts expect that TIER REIT Inc will post $1.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.18 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.72 annualized dividend and a yield of 4.02%.
TIER has been the topic of a number of recent analyst reports. TheStreet upgraded shares of TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th. BMO Capital Markets set a $20.00 price target on shares of TIER REIT and gave the stock a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research upgraded shares of TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Friday, June 16th.
About TIER REIT
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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