Private Advisor Group LLC Acquires 1,980 Shares of TIER REIT Inc (TIER)

Private Advisor Group LLC raised its holdings in TIER REIT Inc (OTCMKTS:TIER) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,224 shares of the real estate investment trust’s stock after buying an additional 1,980 shares during the period. Private Advisor Group LLC owned 0.05% of TIER REIT worth $481,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of TIER REIT by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,836,570 shares of the real estate investment trust’s stock valued at $101,323,000 after acquiring an additional 159,282 shares during the period. State Street Corp grew its position in shares of TIER REIT by 3.9% in the 1st quarter. State Street Corp now owns 1,566,487 shares of the real estate investment trust’s stock valued at $27,197,000 after acquiring an additional 59,520 shares during the period. Private Management Group Inc. grew its position in shares of TIER REIT by 19.5% in the 2nd quarter. Private Management Group Inc. now owns 1,136,024 shares of the real estate investment trust’s stock valued at $20,994,000 after acquiring an additional 185,440 shares during the period. Engine Capital Management LLC grew its position in shares of TIER REIT by 4,139.5% in the 1st quarter. Engine Capital Management LLC now owns 906,277 shares of the real estate investment trust’s stock valued at $15,733,000 after acquiring an additional 884,900 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of TIER REIT by 41.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 893,499 shares of the real estate investment trust’s stock valued at $16,512,000 after acquiring an additional 260,977 shares during the period.

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A number of brokerages have recently commented on TIER. Zacks Investment Research downgraded shares of TIER REIT from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet raised shares of TIER REIT from a “d+” rating to a “c” rating in a research report on Monday, June 5th.

Shares of TIER REIT Inc (OTCMKTS:TIER) opened at 18.60 on Friday. The company’s 50 day moving average is $18.28 and its 200 day moving average is $17.64. TIER REIT Inc has a one year low of $14.06 and a one year high of $18.95. The company has a market cap of $889.88 million and a P/E ratio of 9.47.

TIER REIT (OTCMKTS:TIER) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $54.55 million during the quarter, compared to analyst estimates of $52.39 million. TIER REIT had a negative net margin of 4.62% and a positive return on equity of 2.28%. On average, equities analysts predict that TIER REIT Inc will post $2.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.87%.

TIER REIT Company Profile

TIER REIT, Inc is a real estate investment trust. The Company’s business consists of owning, acquiring, developing, operating, investing in, and disposing of real estate assets. The Company’s business is conducted through Tier Operating Partnership LP (Tier OP). As of December 31, 2016, the Company owned interests in 29 operating office properties, one non-operating property and one development property located in 13 markets throughout the United States.

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Institutional Ownership by Quarter for TIER REIT (OTCMKTS:TIER)

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