TIER REIT, Inc. (TIER) Holdings Decreased by Susquehanna International Group LLP
Susquehanna International Group LLP reduced its position in TIER REIT, Inc. (NYSE:TIER) by 34.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,830 shares of the real estate investment trust’s stock after selling 14,136 shares during the quarter. Susquehanna International Group LLP owned approximately 0.06% of TIER REIT worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in shares of TIER REIT during the third quarter worth $691,000. California Public Employees Retirement System boosted its position in shares of TIER REIT by 2.5% during the third quarter. California Public Employees Retirement System now owns 125,561 shares of the real estate investment trust’s stock worth $2,423,000 after acquiring an additional 3,061 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in shares of TIER REIT by 35.5% during the third quarter. First Allied Advisory Services Inc. now owns 15,872 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 4,161 shares during the last quarter. OxFORD Asset Management LLP bought a new position in shares of TIER REIT during the third quarter worth $990,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of TIER REIT by 10.3% during the third quarter. Dimensional Fund Advisors LP now owns 412,723 shares of the real estate investment trust’s stock worth $7,966,000 after acquiring an additional 38,566 shares during the last quarter. Institutional investors and hedge funds own 57.50% of the company’s stock.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and set a $20.00 target price on shares of TIER REIT in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of TIER REIT from a “buy” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, BidaskClub lowered shares of TIER REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.67.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, December 14th. TIER REIT’s payout ratio is 39.56%.
In related news, insider William J. Reister sold 7,500 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $19.62, for a total transaction of $147,150.00. Following the sale, the insider now owns 82,736 shares of the company’s stock, valued at $1,623,280.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.
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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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