BlackRock Inc. raised its stake in shares of TIER REIT Inc (OTCMKTS:TIER) by 12.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 66,784 shares of the company’s stock after buying an additional 7,616 shares during the period. BlackRock Inc. owned about 0.14% of TIER REIT worth $1,031,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in TIER. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of TIER REIT during the third quarter valued at about $120,000. Mizuho Trust & Banking Co. Ltd. purchased a new stake in shares of TIER REIT during the third quarter valued at about $180,000. Creative Planning raised its stake 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 purchased a new stake in shares of TIER REIT during the third quarter valued at about $236,000. Finally, KBC Group NV raised its stake 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.
Shares of TIER REIT Inc (OTCMKTS:TIER) traded down 1.37% on Thursday, reaching $18.01. The company’s stock had a trading volume of 123,789 shares. The stock has a 50 day moving average of $16.97 and a 200-day moving average of $16.13. TIER REIT Inc has a 12 month low of $12.52 and a 12 month high of $18.39. The firm’s market cap is $859.83 million.
TIER REIT (OTCMKTS:TIER) last issued its quarterly earnings data 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. On average, analysts anticipate that TIER REIT Inc will post ($0.55) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Wednesday, December 28th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.94%.
A number of research analysts have recently commented on TIER shares. BMO Capital Markets started coverage on TIER REIT in a report on Thursday, December 22nd. They set an “outperform” rating for the company. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Saturday, October 29th. Finally, TheStreet lowered TIER REIT from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.17.
In other news, Director George Ronald Witten bought 7,000 shares of TIER REIT stock in a transaction that occurred on Tuesday, November 15th. The shares were acquired at an average price of $15.63 per share, with a total value of $109,410.00. Following the completion of the purchase, the director now directly owns 18,645 shares in the company, valued at $291,421.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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