InfraREIT, Inc. (HIFR) Downgraded by BidaskClub to Strong Sell

BidaskClub lowered shares of InfraREIT, Inc. (NYSE:HIFR) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

HIFR has been the subject of a number of other reports. Evercore ISI reiterated an outperform rating and issued a $24.00 target price on shares of InfraREIT in a research note on Saturday, September 30th. Royal Bank Of Canada restated a hold rating and set a $22.00 price objective on shares of InfraREIT in a research note 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 price objective for the company in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $23.67.

Shares of InfraREIT (HIFR) opened at $20.89 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.90. InfraREIT has a 12 month low of $16.00 and a 12 month high of $23.22.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Friday, September 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, September 28th. InfraREIT’s payout ratio is 86.21%.

In related news, major shareholder Insurance & Annuity A. Teachers sold 150,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $21.98, for a total value of $3,297,000.00. Following the completion of the transaction, the insider now directly owns 4,572,394 shares in the company, valued at approximately $100,501,220.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $22.35, for a total transaction of $983,400.00. Following the completion of the transaction, the insider now owns 4,378,394 shares of the company’s stock, valued at $97,857,105.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,088 shares of company stock valued at $9,397,774. Company insiders own 28.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL lifted its stake in shares of InfraREIT by 4.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 26,500 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 1,200 shares during the period. American International Group Inc. lifted its stake in shares of 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 valued at $442,000 after purchasing an additional 1,623 shares during the period. Voya Investment Management LLC lifted its stake in shares of InfraREIT by 14.1% in the 2nd quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 2,338 shares during the period. Bessemer Group Inc. lifted its stake in shares of InfraREIT by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 75,200 shares of the real estate investment trust’s stock valued at $1,440,000 after purchasing an additional 2,600 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of InfraREIT by 89.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,878 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,778 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

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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