InfraREIT, Inc. (HIFR) Expected to Post Earnings of $0.38 Per Share

Analysts expect that InfraREIT, Inc. (NYSE:HIFR) will post earnings per share of $0.38 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for InfraREIT’s earnings. InfraREIT posted earnings of $0.32 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.8%. The company is expected to announce its next earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that InfraREIT will report full year earnings of $1.40 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $1.50 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover InfraREIT.

InfraREIT (NYSE:HIFR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12). The business had revenue of $40.42 million for the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%.

A number of analysts have recently issued reports on HIFR shares. Zacks Investment Research downgraded shares of InfraREIT from a “hold” rating to a “sell” rating in a report on Friday, May 19th. BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $22.00 price target on shares of InfraREIT in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.50.

InfraREIT (NYSE:HIFR) opened at 22.44 on Wednesday. The company has a market cap of $982.38 million, a PE ratio of 18.87 and a beta of 0.49. InfraREIT has a 1-year low of $14.59 and a 1-year high of $22.74. The stock’s 50 day moving average price is $22.44 and its 200-day moving average price is $17.75.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.46%. InfraREIT’s dividend payout ratio is currently 83.33%.

In related news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of InfraREIT stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total value of $1,288,425.92. Following the completion of the sale, the insider now owns 5,398,153 shares in the company, valued at approximately $106,451,577.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of InfraREIT stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the completion of the sale, the insider now owns 5,463,489 shares of the company’s stock, valued at approximately $107,412,193.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,277,929 shares of company stock valued at $27,774,665 in the last 90 days. Insiders own 28.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HIFR. Bank of Montreal Can increased its holdings in InfraREIT by 1.7% in the 1st quarter. Bank of Montreal Can now owns 45,495 shares of the real estate investment trust’s stock valued at $819,000 after purchasing an additional 768 shares during the last quarter. Wells Fargo & Company MN increased its holdings in InfraREIT by 2.7% in the 1st quarter. Wells Fargo & Company MN now owns 516,700 shares of the real estate investment trust’s stock valued at $9,301,000 after purchasing an additional 13,750 shares during the last quarter. First Trust Advisors LP increased its holdings in InfraREIT by 80.4% in the 1st quarter. First Trust Advisors LP now owns 114,904 shares of the real estate investment trust’s stock valued at $2,068,000 after purchasing an additional 51,221 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in InfraREIT by 218.3% in the 1st quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 7,885 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in InfraREIT by 34.1% in the 1st quarter. American Century Companies Inc. now owns 92,523 shares of the real estate investment trust’s stock valued at $1,665,000 after purchasing an additional 23,505 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.

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About InfraREIT

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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