Prudential Financial Inc. decreased its position in TIER REIT Inc (OTCMKTS:TIER) by 13.8% during the third quarter, Holdings Channel reports. The firm owned 55,500 shares of the company’s stock after selling 8,900 shares during the period. Prudential Financial Inc. owned about 0.12% of TIER REIT worth $857,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Engine Capital Management LLC bought a new stake in shares of TIER REIT during the second quarter worth about $13,736,000. Schwab Charles Investment Management Inc. boosted its stake in shares of TIER REIT by 54.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 282,982 shares of the company’s stock worth $4,339,000 after buying an additional 100,093 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of TIER REIT by 4.3% in the third quarter. Koshinski Asset Management Inc. now owns 106,086 shares of the company’s stock worth $1,638,000 after buying an additional 4,377 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of TIER REIT by 17.5% in the third quarter. California Public Employees Retirement System now owns 104,600 shares of the company’s stock worth $1,615,000 after buying an additional 15,600 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of TIER REIT by 114.9% in the third quarter. Virginia Retirement Systems ET AL now owns 87,900 shares of the company’s stock worth $1,357,000 after buying an additional 47,000 shares in the last quarter.
TIER REIT Inc (OTCMKTS:TIER) traded down 0.60% on Friday, reaching $18.19. The company’s stock had a trading volume of 66,226 shares. TIER REIT Inc has a 12 month low of $12.52 and a 12 month high of $18.53. The firm has a 50 day moving average of $17.10 and a 200 day moving average of $16.15. The firm’s market cap is $868.43 million.
TIER REIT (OTCMKTS:TIER) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Analysts anticipate that TIER REIT Inc will post ($0.55) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $0.18 dividend. The ex-dividend date is Monday, March 13th. This represents a $0.72 annualized dividend and a yield of 3.93%.
A number of equities research analysts recently weighed in on TIER shares. BMO Capital Markets started coverage on TIER REIT in a research note on Thursday, December 22nd. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Saturday, October 29th. TheStreet cut TIER REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Finally, JMP Securities began coverage on TIER REIT in a research report on Friday. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.17.
In other TIER REIT news, Director George Ronald Witten acquired 7,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 18,645 shares in the company, valued at $291,421.35. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
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.
Want to see what other hedge funds are holding TIER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TIER REIT Inc (OTCMKTS:TIER).