Alliancebernstein L.P. Acquires 61,470 Shares of InfraREIT, Inc. (HIFR)

Alliancebernstein L.P. lifted its holdings in shares of InfraREIT, Inc. (NYSE:HIFR) by 124.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,861 shares of the real estate investment trust’s stock after buying an additional 61,470 shares during the period. Alliancebernstein L.P. owned about 0.25% of InfraREIT worth $2,123,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HIFR. Vanguard Group Inc. lifted its stake in InfraREIT by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 2,729,325 shares of the real estate investment trust’s stock valued at $49,128,000 after purchasing an additional 157,236 shares during the last quarter. State Street Corp lifted its stake in InfraREIT by 10.5% in the 1st quarter. State Street Corp now owns 787,301 shares of the real estate investment trust’s stock valued at $14,173,000 after purchasing an additional 74,806 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in InfraREIT by 35.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 725,415 shares of the real estate investment trust’s stock valued at $13,892,000 after purchasing an additional 190,748 shares during the last quarter. Bank of America Corp DE lifted its stake in InfraREIT by 2.4% in the 1st 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 purchasing an additional 14,493 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in InfraREIT in the 2nd quarter valued at about $11,079,000. Institutional investors own 83.64% of the company’s stock.

In other InfraREIT news, major shareholder Insurance & Annuity A. Teachers sold 134,964 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $22.76, for a total value of $3,071,780.64. Following the transaction, the insider now directly owns 5,053,607 shares in the company, valued at $115,020,095.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 62,746 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $19.66, for a total transaction of $1,233,586.36. Following the completion of the transaction, the insider now owns 5,463,489 shares in the company, valued at $107,412,193.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,227,929 shares of company stock worth $26,785,165. Corporate insiders own 28.00% of the company’s stock.

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Several equities research analysts recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating and issued a $24.00 target price on shares of InfraREIT in a research note on Saturday, September 30th. BidaskClub downgraded shares of InfraREIT from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 target price on shares of InfraREIT in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.67.

Shares of InfraREIT, Inc. (NYSE:HIFR) opened at 22.67 on Tuesday. The firm has a market capitalization of $992.45 million, a P/E ratio of 19.07 and a beta of 0.49. The company has a 50-day moving average of $22.44 and a 200 day moving average of $20.38. InfraREIT, Inc. has a 52 week low of $14.59 and a 52 week high of $23.15.

InfraREIT (NYSE:HIFR) last released its earnings results 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 company had revenue of $40.42 million during the quarter. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. Equities research analysts anticipate that InfraREIT, Inc. will post $1.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Thursday, September 28th. InfraREIT’s payout ratio is 83.33%.

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.

Institutional Ownership by Quarter for InfraREIT (NYSE:HIFR)

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