Prospera Financial Services Inc reduced its stake in shares of TIER REIT Inc (OTCMKTS:TIER) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,364 shares of the real estate investment trust’s stock after selling 5,575 shares during the period. Prospera Financial Services Inc’s holdings in TIER REIT were worth $575,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of TIER REIT during the first quarter valued at about $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 during the period. LSV Asset Management purchased a new stake in shares of TIER REIT during the first quarter valued at about $199,000. Clinton Group Inc. purchased a new stake in shares of TIER REIT during the first quarter valued at about $210,000. Finally, Two Sigma Securities LLC increased its stake in shares of TIER REIT by 13.9% in the first quarter. Two Sigma Securities LLC now owns 12,903 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 1,570 shares during the period.
TIER REIT Inc (OTCMKTS TIER) traded down 0.81% during trading on Thursday, hitting $18.45. The stock had a trading volume of 30,083 shares. TIER REIT Inc has a 52 week low of $14.06 and a 52 week high of $18.95. The company’s 50-day moving average is $17.68 and its 200 day moving average is $17.59. The firm has a market cap of $881.93 million and a PE ratio of 10.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.87%. The ex-dividend date was Tuesday, June 13th.
Several equities analysts have recently commented on TIER shares. BMO Capital Markets set a $20.00 target price on TIER REIT and gave the company a “buy” rating in a research note on Thursday, May 11th. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, June 16th. Finally, TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, June 5th.
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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