Zacks Investment Research Downgrades TIER REIT Inc (TIER) to Sell

TIER REIT Inc (OTCMKTS:TIER) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Tier REIT Inc. is a real estate investment trust which focused on commercial office real estate. It operates primarily in Atlanta, Georgia, Chicago, Illinois, Louisville and Kentucky. Tier REIT Inc. is based in Dallas, Texas. “

Separately, BidaskClub upgraded TIER REIT from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $20.67.

Shares of TIER REIT (TIER) opened at 19.74 on Wednesday. The company has a 50-day moving average of $18.92 and a 200 day moving average of $17.91. The stock has a market cap of $944.42 million and a P/E ratio of 10.05. TIER REIT has a 52-week low of $14.06 and a 52-week high of $20.00.

TIER REIT (OTCMKTS:TIER) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $54.55 million during the quarter, compared to the consensus estimate of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. Equities research analysts forecast that TIER REIT will post $2.14 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its stake in shares of TIER REIT by 30.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 632,522 shares of the real estate investment trust’s stock valued at $10,981,000 after purchasing an additional 149,375 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of TIER REIT during the second quarter valued at about $1,741,000. American Century Companies Inc. bought a new stake in shares of TIER REIT during the second quarter valued at about $816,000. Franklin Resources Inc. bought a new stake in shares of TIER REIT during the second quarter valued at about $1,170,000. Finally, Victory Capital Management Inc. raised its stake in shares of TIER REIT by 26.3% during the second quarter. Victory Capital Management Inc. now owns 66,800 shares of the real estate investment trust’s stock valued at $1,234,000 after purchasing an additional 13,895 shares in the last quarter.

TIER REIT Company Profile

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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