First Heartland Consultants Inc. reduced its position in shares of TIER REIT Inc (OTCMKTS:TIER) by 14.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,865 shares of the real estate investment trust’s stock after selling 2,704 shares during the period. First Heartland Consultants Inc.’s holdings in TIER REIT were worth $275,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of TIER. Acadian Asset Management LLC purchased a new stake in shares of TIER REIT during the first quarter valued at $135,000. Arete Wealth Advisors LLC increased its stake in shares of TIER REIT by 5.6% in the first quarter. Arete Wealth Advisors LLC now owns 11,431 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 604 shares in the last quarter. LSV Asset Management bought a new stake in shares of TIER REIT during the first quarter valued at approximately $199,000. Clinton Group Inc. bought a new stake in shares of TIER REIT during the first quarter valued at approximately $210,000. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of TIER REIT by 5.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 14,066 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 765 shares in the last quarter.
TIER REIT Inc (OTCMKTS:TIER) traded down 0.90% during mid-day trading on Tuesday, hitting $17.57. The stock had a trading volume of 154,743 shares. The stock’s 50-day moving average is $16.78 and its 200 day moving average is $17.37. TIER REIT Inc has a 52 week low of $14.06 and a 52 week high of $18.80. The company has a market capitalization of $839.86 million and a P/E ratio of 10.43.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 4.10%.
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Several research firms recently weighed in on TIER. Zacks Investment Research raised TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Friday. TheStreet raised TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th. Finally, BMO Capital Markets set a $20.00 target price on TIER REIT and gave the stock a “buy” rating in a research report on Thursday, May 11th.
About TIER REIT
TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.
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