State Board of Administration of Florida Retirement System bought a new position in InfraREIT, Inc. (NYSE:HIFR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 68,750 shares of the real estate investment trust’s stock, valued at approximately $1,317,000. State Board of Administration of Florida Retirement System owned approximately 0.16% of InfraREIT at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Prudential Financial Inc. grew its stake in InfraREIT by 49.7% in the 1st quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock worth $10,931,000 after acquiring an additional 201,600 shares in the last quarter. State Street Corp grew its stake in InfraREIT by 10.5% in the 1st quarter. State Street Corp now owns 787,301 shares of the real estate investment trust’s stock worth $14,173,000 after acquiring an additional 74,806 shares in the last quarter. American International Group Inc. grew its stake in InfraREIT by 7.1% in the 1st quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 1,623 shares in the last quarter. Bank of Montreal Can grew its stake in InfraREIT by 1.7% in the 1st quarter. Bank of Montreal Can now owns 45,495 shares of the real estate investment trust’s stock worth $819,000 after acquiring an additional 768 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in InfraREIT by 218.3% in the 1st quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 7,885 shares in the last quarter. Institutional investors and hedge funds own 83.78% of the company’s stock.
In related news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of InfraREIT stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total value of $1,288,425.92. Following the completion of the transaction, the insider now owns 5,398,153 shares in the company, valued at $106,451,577.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 209,582 shares of InfraREIT stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $21.19, for a total transaction of $4,441,042.58. Following the completion of the transaction, the insider now owns 5,223,153 shares of the company’s stock, valued at approximately $110,678,612.07. The disclosure for this sale can be found here. Insiders sold 1,277,929 shares of company stock valued at $27,774,665 in the last 90 days. Company insiders own 28.00% of the company’s stock.
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InfraREIT, Inc. (HIFR) opened at 22.69 on Monday. InfraREIT, Inc. has a 1-year low of $14.59 and a 1-year high of $23.12. The company has a market capitalization of $993.32 million, a P/E ratio of 19.08 and a beta of 0.49. The stock’s 50 day moving average is $22.51 and its 200-day moving average is $20.15.
InfraREIT (NYSE:HIFR) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12). The company had revenue of $40.42 million during 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Thursday, September 28th. InfraREIT’s dividend payout ratio (DPR) is currently 83.33%.
A number of equities analysts have commented on the stock. BidaskClub downgraded shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Royal Bank Of Canada restated a “hold” rating and issued a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of InfraREIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.50.
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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