California Public Employees Retirement System grew its position in shares of TIER REIT Inc (NYSE:TIER) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,561 shares of the real estate investment trust’s stock after acquiring an additional 3,061 shares during the quarter. California Public Employees Retirement System owned about 0.26% of TIER REIT worth $2,423,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. TIAA CREF Investment Management LLC boosted its position in shares of TIER REIT by 18.3% in the second quarter. TIAA CREF Investment Management LLC now owns 224,345 shares of the real estate investment trust’s stock worth $4,146,000 after buying an additional 34,637 shares during the period. Vanguard Group Inc. boosted its position in shares of TIER REIT by 0.6% in the second quarter. Vanguard Group Inc. now owns 5,869,467 shares of the real estate investment trust’s stock worth $108,467,000 after buying an additional 32,897 shares during the period. Citigroup Inc. boosted its position in shares of TIER REIT by 192.2% in the second quarter. Citigroup Inc. now owns 34,127 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 22,447 shares during the period. Franklin Resources Inc. purchased a new stake in shares of TIER REIT in the second quarter worth about $1,170,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of TIER REIT in the second quarter worth about $327,000. Institutional investors own 57.50% of the company’s stock.
In other TIER REIT news, insider William J. Reister sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was 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 in the company, valued at $1,623,280.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
TIER REIT Inc (NYSE TIER) opened at $19.56 on Thursday. The company has a market capitalization of $939.16, a PE ratio of 10.75 and a beta of 0.94. TIER REIT Inc has a 1-year low of $15.96 and a 1-year high of $20.72.
TIER REIT (NYSE:TIER) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.53). TIER REIT had a net margin of 40.68% and a return on equity of 12.86%. analysts anticipate that TIER REIT Inc will post 1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, December 14th. TIER REIT’s dividend payout ratio is currently 39.56%.
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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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