InfraREIT, Inc. (NYSE:HIFR) major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the sale, the insider now owns 5,463,489 shares of the company’s stock, valued at approximately $107,412,193.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
InfraREIT, Inc. (NYSE HIFR) opened at 20.49 on Thursday. The company has a market capitalization of $896.99 million, a price-to-earnings ratio of 17.23 and a beta of 0.49. The company’s 50-day moving average is $20.27 and its 200-day moving average is $18.55. InfraREIT, Inc. has a 52-week low of $14.59 and a 52-week high of $23.12.
InfraREIT (NYSE:HIFR) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.12. The company had revenue of $40.42 million for the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. On average, analysts expect that InfraREIT, Inc. will post $1.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Wednesday, June 28th. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.
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HIFR has been the subject of a number of research reports. Zacks Investment Research cut shares of InfraREIT from a “hold” rating to a “sell” rating in a research note on Friday, May 19th. Wolfe Research upgraded shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research note on Monday, April 24th. BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $22.00 price target on shares of InfraREIT in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.50.
Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in InfraREIT during the second quarter worth $206,000. Advisors Asset Management Inc. raised its stake in InfraREIT by 218.3% in the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 7,885 shares during the period. Clinton Group Inc. raised its stake in InfraREIT by 7.0% in the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 845 shares during the period. Acadian Asset Management LLC raised its stake in InfraREIT by 310.3% in the second quarter. Acadian Asset Management LLC now owns 19,643 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 14,856 shares during the period. Finally, Sei Investments Co. raised its stake in InfraREIT by 1,010.6% in the second quarter. Sei Investments Co. now owns 22,878 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 20,818 shares during the period. 84.01% of the stock is owned by hedge funds and other institutional investors.
InfraREIT Company Profile
InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its 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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