TIER REIT Inc (NYSE:TIER) has received an average recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $25.50.
Several equities analysts have weighed in on the company. Robert W. Baird raised their target price on TIER REIT from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Zacks Investment Research lowered TIER REIT from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. JMP Securities raised their target price on TIER REIT from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Wednesday, August 8th. Finally, TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a report on Monday, July 23rd.
NYSE TIER traded up $0.27 during trading on Friday, hitting $21.94. 12,749 shares of the company traded hands, compared to its average volume of 246,608. TIER REIT has a 12 month low of $17.04 and a 12 month high of $24.98. The firm has a market cap of $1.11 billion, a P/E ratio of 13.97 and a beta of 0.75.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TRUE Private Wealth Advisors bought a new position in shares of TIER REIT in the third quarter worth about $108,000. Alpha Cubed Investments LLC bought a new position in shares of TIER REIT in the second quarter worth about $217,000. First Trust Advisors LP bought a new position in shares of TIER REIT in the third quarter worth about $218,000. Paloma Partners Management Co bought a new position in shares of TIER REIT in the second quarter worth about $242,000. Finally, Private Advisory Group LLC bought a new position in shares of TIER REIT in the second quarter worth about $250,000. Institutional investors own 64.95% of the company’s stock.
About TIER REIT
TIER REIT, Inc is a publicly traded (NYSE: TIER), self-managed, Dallas-based real estate investment trust focused on owning quality, well-managed commercial office properties in dynamic markets throughout the U.S. Our vision is to be the premier owner and operator of best-in-class office properties in TIER1 submarkets, which are primarily higher density and amenity-rich locations within select, high-growth metropolitan areas that offer a walkable experience to various amenities.
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