Centaurus Financial Inc. purchased a new position in shares of TIER REIT Inc (NYSE:TIER) during the fourth quarter, Holdings Channel reports. The firm purchased 9,922 shares of the real estate investment trust’s stock, valued at approximately $202,000.
Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in TIER REIT by 3.8% during the second quarter. Wells Fargo & Company MN now owns 68,743 shares of the real estate investment trust’s stock worth $1,271,000 after buying an additional 2,545 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in TIER REIT during the second quarter worth about $327,000. New York State Common Retirement Fund boosted its holdings in TIER REIT by 30.9% during the second quarter. New York State Common Retirement Fund now owns 49,571 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 11,699 shares in the last quarter. Northern Trust Corp boosted its holdings in TIER REIT by 1.5% during the second quarter. Northern Trust Corp now owns 795,118 shares of the real estate investment trust’s stock worth $14,694,000 after buying an additional 11,550 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in TIER REIT by 25.8% during the second quarter. Parametric Portfolio Associates LLC now owns 121,251 shares of the real estate investment trust’s stock worth $2,241,000 after buying an additional 24,885 shares in the last quarter. Institutional investors and hedge funds own 62.98% 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 dated Tuesday, December 5th. The shares were 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 of the company’s stock, valued at $1,623,280.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
TIER has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the stock a “buy” rating in a report on Friday, January 19th. Zacks Investment Research raised shares of TIER REIT from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, BMO Capital Markets reissued a “buy” rating and set a $20.00 price objective on shares of TIER REIT in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.33.
Shares of TIER REIT Inc (NYSE:TIER) opened at $19.15 on Friday. TIER REIT Inc has a fifty-two week low of $15.96 and a fifty-two week high of $20.72. The stock has a market cap of $912.85, a PE ratio of 11.01 and a beta of 0.76.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Wednesday, March 14th. TIER REIT’s dividend payout ratio (DPR) is presently 41.38%.
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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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