InfraREIT, Inc. (HIFR) Rating Increased to Hold at Zacks Investment Research

InfraREIT, Inc. (NYSE:HIFR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 18th.

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. “

HIFR has been the subject of several other reports. Wolfe Research upgraded shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research report on Monday, April 24th. BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. InfraREIT has an average rating of “Buy” and a consensus price target of $23.50.

InfraREIT (NYSE HIFR) opened at 21.06 on Tuesday. The firm has a market cap of $921.96 million, a PE ratio of 17.71 and a beta of 0.49. InfraREIT has a 1-year low of $14.59 and a 1-year high of $23.12. The company has a 50 day moving average price of $20.42 and a 200 day moving average price of $18.68.

InfraREIT (NYSE:HIFR) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.12. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The business had revenue of $40.42 million during the quarter. On average, equities research analysts forecast that InfraREIT will post $1.28 earnings per share for the current year.

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In other news, major shareholder Insurance & Annuity A. Teachers sold 209,582 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $21.19, for a total transaction of $4,441,042.58. Following the completion of the sale, the insider now directly owns 5,223,153 shares in the company, valued at $110,678,612.07. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 42,735 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $22.49, for a total transaction of $961,110.15. Following the sale, the insider now owns 4,827,358 shares of the company’s stock, valued at $108,567,281.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 853,841 shares of company stock valued at $18,376,891. 28.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HIFR. Prudential Financial Inc. raised its position in shares of InfraREIT by 49.7% in the first quarter. Prudential Financial Inc. now owns 607,290 shares of the real estate investment trust’s stock valued at $10,931,000 after buying an additional 201,600 shares in the last quarter. Pensionfund Sabic raised its position in shares of InfraREIT by 6.3% in the first quarter. Pensionfund Sabic now owns 33,720 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 2,000 shares in the last quarter. Ecofin Ltd. raised its position in shares of InfraREIT by 44.0% in the first quarter. Ecofin Ltd. now owns 245,094 shares of the real estate investment trust’s stock valued at $4,412,000 after buying an additional 74,832 shares in the last quarter. American International Group Inc. raised its position in shares of InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 1,623 shares in the last quarter. Finally, Norges Bank bought a new position in shares of InfraREIT during the fourth quarter valued at about $5,838,000. 84.01% of the stock is currently owned by institutional investors and hedge funds.

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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