BlackRock Group LTD boosted its position in shares of TIER REIT Inc (OTCMKTS:TIER) by 120.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,444 shares of the company’s stock after buying an additional 172,526 shares during the period. BlackRock Group LTD owned approximately 0.66% of TIER REIT worth $4,871,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of TIER. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of TIER REIT during the third quarter valued at about $120,000. Mizuho Trust & Banking Co. Ltd. bought a new position in shares of TIER REIT during the third quarter valued at about $180,000. Creative Planning raised its position in shares of TIER REIT by 14.3% in the third quarter. Creative Planning now owns 14,730 shares of the company’s stock valued at $227,000 after buying an additional 1,845 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in shares of TIER REIT during the third quarter valued at about $236,000. Finally, KBC Group NV raised its position in shares of TIER REIT by 75.4% in the third quarter. KBC Group NV now owns 17,316 shares of the company’s stock valued at $267,000 after buying an additional 7,443 shares in the last quarter.
TIER REIT Inc (OTCMKTS:TIER) traded down 0.99% during mid-day trading on Wednesday, reaching $18.04. 230,329 shares of the company were exchanged. The company’s market capitalization is $861.27 million. TIER REIT Inc has a one year low of $12.52 and a one year high of $18.39. The stock has a 50-day moving average price of $16.87 and a 200 day moving average price of $16.10.
TIER REIT (OTCMKTS:TIER) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Analysts predict that TIER REIT Inc will post ($0.55) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Wednesday, December 28th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Friday, December 23rd.
TIER has been the topic of several research analyst reports. Zacks Investment Research raised shares of TIER REIT from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, October 18th. BMO Capital Markets assumed coverage on shares of TIER REIT in a research note on Thursday, December 22nd. They issued an “outperform” rating on the stock. Finally, TheStreet lowered shares of TIER REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.17.
In other news, Director George Ronald Witten purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were bought at an average price of $15.63 per share, for a total transaction of $109,410.00. Following the purchase, the director now directly owns 18,645 shares in the company, valued at approximately $291,421.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
About TIER REIT
TIER REIT, Inc is a self-managed real estate investment trust. The Company is engaged in acquiring, developing and operating a portfolio of office properties in certain markets of the United States. The Company’s business is primarily conducted through Tier Operating Partnership LP. The Company holds interests in approximately 30 operating office properties, over two non-operating properties and a development property located in approximately 20 markets across the United States.
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