TIER REIT (TIER) Sets New 1-Year High and Low at $22.83

Shares of TIER REIT Inc (NYSE:TIER) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $22.83 and last traded at $22.96, with a volume of 12781 shares traded. The stock had previously closed at $22.11.

A number of analysts recently issued reports on TIER shares. Cantor Fitzgerald set a $22.00 price objective on shares of TIER REIT and gave the stock a “buy” rating in a report on Tuesday, March 6th. Zacks Investment Research downgraded shares of TIER REIT from a “hold” rating to a “sell” rating in a report on Friday, March 9th. JMP Securities raised their price objective on shares of TIER REIT from $23.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, June 8th. JPMorgan Chase & Co. upgraded shares of TIER REIT from a “neutral” rating to an “overweight” rating in a report on Thursday, May 31st. Finally, TheStreet downgraded shares of TIER REIT from a “c” rating to a “d+” rating in a report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.40.

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.59 and a beta of 0.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.14%. TIER REIT’s dividend payout ratio is presently 45.86%.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of TIER REIT by 4.6% in the fourth quarter. BlackRock Inc. now owns 4,219,774 shares of the real estate investment trust’s stock valued at $86,040,000 after acquiring an additional 186,042 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of TIER REIT by 11.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,405,611 shares of the real estate investment trust’s stock valued at $25,976,000 after acquiring an additional 141,558 shares during the period. Schroder Investment Management Group boosted its position in shares of TIER REIT by 100.6% in the first quarter. Schroder Investment Management Group now owns 1,208,359 shares of the real estate investment trust’s stock valued at $22,331,000 after acquiring an additional 606,010 shares during the period. Private Management Group Inc. boosted its position in shares of TIER REIT by 0.9% in the first quarter. Private Management Group Inc. now owns 1,117,892 shares of the real estate investment trust’s stock valued at $20,659,000 after acquiring an additional 9,700 shares during the period. Finally, Northern Trust Corp boosted its position in shares of TIER REIT by 4.5% in the first quarter. Northern Trust Corp now owns 846,975 shares of the real estate investment trust’s stock valued at $15,653,000 after acquiring an additional 36,411 shares during the period. Hedge funds and other institutional investors own 62.00% of the company’s stock.

TIER REIT Company Profile

TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.

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