InfraREIT, Inc. (NYSE:HIFR) Receives Hold Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their hold rating on shares of InfraREIT, Inc. (NYSE:HIFR) in a report issued on Wednesday morning. They currently have a $22.00 price objective on the real estate investment trust’s stock.

HIFR has been the topic of a number of other research reports. BidaskClub cut shares of InfraREIT from a strong-buy rating to a buy rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of InfraREIT from a hold rating to a buy rating and set a $25.00 price target on the stock in a report on Wednesday, July 26th. Finally, Wolfe Research upgraded shares of InfraREIT from a market perform rating to an outperform rating in a report on Monday, April 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $23.50.

InfraREIT (NYSE HIFR) opened at 21.06 on Wednesday. InfraREIT has a 1-year low of $14.59 and a 1-year high of $23.12. The firm has a market cap of $921.96 million, a P/E ratio of 17.71 and a beta of 0.49. The firm’s 50-day moving average price is $20.42 and its 200-day moving average price is $18.68.

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

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The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Wednesday, June 28th. InfraREIT’s payout ratio is 83.33%.

In other news, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the sale, the insider now owns 5,398,153 shares in the company, valued at $106,451,577.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Insurance & Annuity A. Teachers sold 54,964 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $21.11, for a total transaction of $1,160,290.04. Following the sale, the insider now owns 4,722,394 shares in the company, valued at approximately $99,689,737.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 853,841 shares of company stock worth $18,376,891. Corporate insiders own 28.00% of the company’s stock.

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of InfraREIT by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,919,574 shares of the real estate investment trust’s stock valued at $55,909,000 after buying an additional 190,249 shares in the last quarter. State Street Corp boosted its stake in shares of InfraREIT by 10.5% in the first quarter. State Street Corp now owns 787,301 shares of the real estate investment trust’s stock valued at $14,173,000 after buying an additional 74,806 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of InfraREIT by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after buying an additional 190,748 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of InfraREIT by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 634,168 shares of the real estate investment trust’s stock valued at $11,415,000 after buying an additional 10,338 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of InfraREIT by 2.4% in the first quarter. Bank of America Corp DE now owns 615,191 shares of the real estate investment trust’s stock valued at $11,074,000 after buying an additional 14,493 shares in the last quarter. Institutional investors own 84.01% 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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