InfraREIT (NYSE:HIFR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “
Several other brokerages have also recently commented on HIFR. BidaskClub cut InfraREIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Wolfe Research cut InfraREIT from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 target price on shares of InfraREIT in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.33.
A number of hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its holdings in InfraREIT by 14.1% in the second quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 2,338 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in InfraREIT by 89.6% in the third 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 acquiring an additional 2,778 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in InfraREIT by 22.7% in the second quarter. Tudor Investment Corp ET AL now owns 16,128 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 2,984 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in InfraREIT by 26.3% in the third quarter. Advisors Asset Management Inc. now owns 19,671 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 4,097 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in 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 valued at $1,091,000 after buying an additional 4,396 shares during the period. Institutional investors and hedge funds own 84.56% of the company’s stock.
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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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