TIER REIT Inc (TIER) Holdings Lifted by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its holdings in shares of TIER REIT Inc (OTCMKTS:TIER) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381,643 shares of the real estate investment trust’s stock after purchasing an additional 8,236 shares during the period. Bank of New York Mellon Corp owned 0.80% of TIER REIT worth $7,052,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TIER. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of TIER REIT by 7.2% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,174 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 482 shares in the last quarter. Clinton Group Inc. bought a new position in shares of TIER REIT in the 1st quarter worth approximately $210,000. Two Sigma Securities LLC raised its position in shares of TIER REIT by 13.9% in the 1st quarter. Two Sigma Securities LLC now owns 12,903 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 1,570 shares in the last quarter. Investment Centers of America Inc. bought a new position in shares of TIER REIT in the 1st quarter worth approximately $267,000. Finally, Russell Investments Group Ltd. raised its position in shares of TIER REIT by 154.1% in the 1st quarter. Russell Investments Group Ltd. now owns 15,660 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 9,497 shares in the last quarter.
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Several research analysts have recently issued reports on the company. BidaskClub raised TIER REIT from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered TIER REIT from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th. Four research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $20.67.
TIER REIT Inc (TIER) opened at 19.30 on Friday. The company’s 50-day moving average price is $18.30 and its 200-day moving average price is $17.64. TIER REIT Inc has a 52-week low of $14.06 and a 52-week high of $19.50. The company has a market cap of $923.37 million and a price-to-earnings ratio of 9.83.
TIER REIT (OTCMKTS:TIER) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $54.55 million during the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. Equities research analysts expect that TIER REIT Inc will post $2.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.18 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.73%.
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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