Other equities research analysts have also issued research reports about the company. BMO Capital Markets set a $21.00 price target on TIER REIT and gave the stock a buy rating in a research note on Monday, February 12th. Zacks Investment Research lowered TIER REIT from a hold rating to a sell rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $21.33.
Shares of TIER REIT (TIER) opened at $18.58 on Wednesday. TIER REIT has a 52 week low of $15.96 and a 52 week high of $20.72. The firm has a market capitalization of $897.56, a PE ratio of 10.68 and a beta of 0.76.
In related 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 value 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 SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Schroder Investment Management Group raised its stake in shares of TIER REIT by 9,612.2% during the 4th quarter. Schroder Investment Management Group now owns 602,349 shares of the real estate investment trust’s stock worth $12,282,000 after buying an additional 596,147 shares during the period. AWH Capital L.P. acquired a new position in shares of TIER REIT during the 4th quarter worth approximately $9,963,000. APG Asset Management US Inc. acquired a new position in shares of TIER REIT during the 4th quarter worth approximately $8,917,000. Cbre Clarion Securities LLC acquired a new position in shares of TIER REIT during the 4th quarter worth approximately $4,451,000. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of TIER REIT during the 3rd quarter worth approximately $4,147,000. 62.98% of the stock is owned by institutional investors.
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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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