Zacks Investment Research lowered shares of TIER REIT Inc (OTCMKTS:TIER) from a buy rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “

Separately, BidaskClub upgraded TIER REIT from a hold rating to a buy rating in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $20.67.

Shares of TIER REIT (OTCMKTS:TIER) traded up 0.7931% during trading on Wednesday, reaching $19.9268. 142,129 shares of the company’s stock traded hands. TIER REIT has a one year low of $14.06 and a one year high of $20.00. The stock has a market cap of $953.36 million and a P/E ratio of 10.1460. The company has a 50 day moving average price of $19.04 and a 200-day moving average price of $17.96.

TIER REIT (OTCMKTS:TIER) last announced its 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. TIER REIT had a positive return on equity of 2.28% and a negative net margin of 4.62%. The firm had revenue of $54.55 million for the quarter, compared to analyst estimates of $52.39 million. On average, equities research analysts expect that TIER REIT will post $2.14 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.64%.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of TIER REIT by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock worth $108,467,000 after purchasing an additional 32,897 shares during the last quarter. State Street Corp increased its position in shares of TIER REIT by 2.4% during the 2nd quarter. State Street Corp now owns 1,603,543 shares of the real estate investment trust’s stock worth $29,634,000 after purchasing an additional 37,056 shares during the last quarter. Private Management Group Inc. increased its position in shares of TIER REIT by 19.5% during the 2nd quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock worth $20,994,000 after purchasing an additional 185,440 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of TIER REIT by 41.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock worth $16,512,000 after purchasing an additional 260,977 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of TIER REIT by 1.5% during the 2nd quarter. Northern Trust Corp now owns 795,118 shares of the real estate investment trust’s stock worth $14,694,000 after purchasing an additional 11,550 shares during the last quarter.

TIER REIT Company Profile

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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