Bank of New York Mellon Corp Has $4,018,000 Stake in InfraREIT, Inc. (HIFR)

Bank of New York Mellon Corp Has $4,018,000 Stake in InfraREIT, Inc. (HIFR)

Bank of New York Mellon Corp raised its position in InfraREIT, Inc. (NYSE:HIFR) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221,532 shares of the real estate investment trust’s stock after buying an additional 16,014 shares during the period. Bank of New York Mellon Corp owned about 0.51% of InfraREIT worth $4,018,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of HIFR. Panagora Asset Management Inc. acquired a new stake in InfraREIT during the second quarter valued at approximately $107,000. Cubist Systematic Strategies LLC acquired a new stake in InfraREIT during the second quarter valued at approximately $257,000. Clinton Group Inc. raised its stake in InfraREIT by 36.8% in the second quarter. Clinton Group Inc. now owns 15,876 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 4,271 shares during the last quarter. BlackRock Inc. raised its stake in InfraREIT by 41.4% in the second quarter. BlackRock Inc. now owns 17,527 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 5,129 shares during the last quarter. Finally, California Public Employees Retirement System acquired a new stake in InfraREIT during the second quarter valued at approximately $338,000. 82.56% of the stock is owned by institutional investors and hedge funds.

InfraREIT, Inc. (NYSE:HIFR) opened at 16.83 on Friday. The company has a market capitalization of $736.63 million, a P/E ratio of 14.75 and a beta of 0.47. InfraREIT, Inc. has a 52 week low of $13.61 and a 52 week high of $21.69. The company’s 50 day moving average price is $17.45 and its 200-day moving average price is $17.54.

InfraREIT (NYSE:HIFR) last issued its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. InfraREIT had a return on equity of 7.51% and a net margin of 29.66%. Equities research analysts expect that InfraREIT, Inc. will post $1.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Friday, December 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.94%. The ex-dividend date was Wednesday, December 28th. InfraREIT’s dividend payout ratio is presently 88.50%.

Several research firms have recently commented on HIFR. RBC Capital Markets lowered shares of InfraREIT from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Wednesday, January 4th. They noted that the move was a valuation call. Royal Bank Of Canada lowered shares of InfraREIT from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Wednesday, January 4th. Zacks Investment Research raised shares of InfraREIT from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, November 8th. Finally, Bank of America Corporation lowered shares of InfraREIT from a “buy” rating to a “neutral” rating in a research report on Friday, November 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. InfraREIT has an average rating of “Hold” and an average price target of $18.60.

About InfraREIT

InfraREIT, Inc is a real estate investment trust. The Company owns electric transmission and distribution (T&D) assets in Texas. Its segment is rate-regulated electric T&D assets. The Company’s T&D assets are located in the Texas Panhandle near Amarillo; the Permian Basin in and around Stanton, Central Texas; around Brady, Northeast Texas; in and around Celeste, and South Texas near McAllen.

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