InfraREIT, Inc. (HIFR) Expected to Post Earnings of $0.44 Per Share

Equities research analysts predict that InfraREIT, Inc. (NYSE:HIFR) will post earnings of $0.44 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for InfraREIT’s earnings. InfraREIT posted earnings of $0.32 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 37.5%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, November 2nd.

According to Zacks, analysts expect that InfraREIT will report full year earnings of $1.40 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $1.50 per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow InfraREIT.

InfraREIT (NYSE:HIFR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS 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 return on equity of 6.28% and a net margin of 28.31%.

Several equities analysts have weighed in on HIFR shares. Evercore ISI restated an “outperform” rating and set a $24.00 target price on shares of InfraREIT in a report on Saturday, September 30th. BidaskClub downgraded shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 target price on shares of InfraREIT in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.67.

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InfraREIT (NYSE HIFR) traded down 1.55% during mid-day trading on Friday, hitting $22.83. 44,796 shares of the stock were exchanged. The company has a 50-day moving average price of $22.51 and a 200-day moving average price of $20.52. The company has a market cap of $999.45 million, a P/E ratio of 19.20 and a beta of 0.49. InfraREIT has a one year low of $14.59 and a one year high of $23.22.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Friday, September 29th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 4.31%. InfraREIT’s dividend payout ratio (DPR) is currently 83.33%.

In other news, major shareholder Insurance & Annuity A. Teachers sold 134,964 shares of InfraREIT stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $22.76, for a total transaction of $3,071,780.64. Following the completion of the sale, the insider now directly owns 5,053,607 shares in the company, valued at $115,020,095.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 80,088 shares of InfraREIT stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $22.43, for a total transaction of $1,796,373.84. Following the sale, the insider now owns 4,298,306 shares of the company’s stock, valued at $96,411,003.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 890,265 shares of company stock valued at $19,822,110. Insiders own 28.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of InfraREIT by 7.0% during the second quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock worth $55,909,000 after buying an additional 190,249 shares in the last quarter. State Street Corp grew its holdings in shares of InfraREIT by 10.8% during 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of InfraREIT by 35.7% during the second quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock worth $13,892,000 after buying an additional 190,748 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of InfraREIT by 2.4% during the first quarter. Bank of America Corp DE now owns 615,191 shares of the real estate investment trust’s stock worth $11,074,000 after buying an additional 14,493 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of InfraREIT during the second quarter worth about $11,079,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

About InfraREIT

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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