Geode Capital Management LLC grew its stake in TIER REIT, Inc. (NYSE:TIER) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 504,394 shares of the real estate investment trust’s stock after purchasing an additional 8,039 shares during the quarter. Geode Capital Management LLC owned approximately 1.05% of TIER REIT worth $10,284,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of TIER. Sei Investments Co. grew its stake in shares of TIER REIT by 96.1% in the third quarter. Sei Investments Co. now owns 6,871 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 3,367 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of TIER REIT by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 389,293 shares of the real estate investment trust’s stock valued at $7,513,000 after acquiring an additional 7,650 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TIER REIT in the third quarter valued at about $179,000. Ameriprise Financial Inc. grew its stake in shares of TIER REIT by 727.2% in the third quarter. Ameriprise Financial Inc. now owns 146,492 shares of the real estate investment trust’s stock valued at $2,828,000 after acquiring an additional 128,782 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of TIER REIT by 9.9% in the third quarter. Legal & General Group Plc now owns 134,786 shares of the real estate investment trust’s stock valued at $2,602,000 after acquiring an additional 12,091 shares in the last quarter. 61.92% of the stock is currently owned by institutional investors.
TIER has been the topic of several research reports. Cantor Fitzgerald set a $22.00 price target on shares of TIER REIT and gave the company a “buy” rating in a research note on Friday, January 19th. Zacks Investment Research upgraded shares of TIER REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. BMO Capital Markets set a $21.00 price target on shares of TIER REIT and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, TheStreet downgraded shares of TIER REIT from a “c” rating to a “d+” rating in a research note on Wednesday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. TIER REIT presently has a consensus rating of “Hold” and an average price target of $21.33.
TIER REIT (NYSE:TIER) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.62). TIER REIT had a net margin of 38.94% and a return on equity of 12.09%. The business had revenue of $54.63 million during the quarter, compared to analyst estimates of $56.06 million. research analysts anticipate that TIER REIT, Inc. will post 1.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.92%. TIER REIT’s payout ratio is 45.86%.
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TIER REIT Company Profile
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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