InfraREIT, Inc. (NYSE:HIFR) major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.43, for a total value of $1,796,373.84. Following the transaction, the insider now owns 4,298,306 shares of the company’s stock, valued at $96,411,003.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of InfraREIT, Inc. (HIFR) opened at 22.44 on Wednesday. The firm has a market cap of $982.38 million, a price-to-earnings ratio of 18.87 and a beta of 0.49. The firm has a 50-day moving average price of $22.44 and a 200-day moving average price of $17.75. InfraREIT, Inc. has a 52-week low of $14.59 and a 52-week high of $22.74.
InfraREIT (NYSE:HIFR) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.12). InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The company had revenue of $40.42 million during the quarter. Analysts predict that InfraREIT, Inc. will post $1.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 29th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, September 28th. InfraREIT’s payout ratio is 83.33%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of InfraREIT by 8.4% in the second quarter. Sterling Capital Management LLC now owns 56,981 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 4,396 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of InfraREIT by 28.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 154,455 shares of the real estate investment trust’s stock worth $2,958,000 after buying an additional 34,461 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of InfraREIT in the second quarter worth about $589,000. State Street Corp boosted its position in shares of InfraREIT by 10.8% in the second quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock worth $16,697,000 after buying an additional 84,696 shares during the period. Finally, Castleton Investment Management LLC purchased a new stake in shares of InfraREIT in the second quarter worth about $1,537,000. 83.78% of the stock is owned by institutional investors.
A number of research firms have issued reports on HIFR. Zacks Investment Research raised InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, July 26th. BidaskClub raised InfraREIT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of InfraREIT in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.50.
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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