Brokerages expect TIER REIT Inc (NYSE:TIER) to post sales of $53.90 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for TIER REIT’s earnings. The lowest sales estimate is $53.40 million and the highest is $54.39 million. TIER REIT reported sales of $50.92 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The firm is expected to report its next quarterly earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that TIER REIT will report full year sales of $215.29 million for the current fiscal year, with estimates ranging from $214.50 million to $216.08 million. For the next year, analysts forecast that the business will report sales of $218.64 million, with estimates ranging from $213.57 million to $223.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TIER REIT.
TIER REIT (NYSE:TIER) last released its earnings results on Tuesday, August 7th. The real estate investment trust reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.53). The business had revenue of $53.99 million for the quarter, compared to analysts’ expectations of $52.00 million. TIER REIT had a negative net margin of 8.33% and a negative return on equity of 2.59%.
Several research firms have recently commented on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a research note on Monday, July 23rd. JPMorgan Chase & Co. upgraded TIER REIT from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, August 1st. Robert W. Baird increased their target price on TIER REIT from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Finally, JMP Securities increased their target price on TIER REIT from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.60.
A number of institutional investors and hedge funds have recently made changes to their positions in TIER. SG Americas Securities LLC bought a new position in TIER REIT during the first quarter worth $125,000. Swiss National Bank lifted its stake in TIER REIT by 5.8% during the first quarter. Swiss National Bank now owns 83,314 shares of the real estate investment trust’s stock worth $1,540,000 after purchasing an additional 4,600 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in TIER REIT by 11.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,405,611 shares of the real estate investment trust’s stock worth $25,976,000 after purchasing an additional 141,558 shares during the last quarter. Northern Trust Corp lifted its stake in TIER REIT by 4.5% during the first quarter. Northern Trust Corp now owns 846,975 shares of the real estate investment trust’s stock worth $15,653,000 after purchasing an additional 36,411 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in TIER REIT by 66.0% during the first quarter. IFP Advisors Inc now owns 9,283 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 3,690 shares during the last quarter. Hedge funds and other institutional investors own 64.99% of the company’s stock.
Shares of TIER REIT stock traded up $0.29 on Friday, hitting $23.42. 284,400 shares of the company’s stock traded hands, compared to its average volume of 239,727. The stock has a market cap of $1.18 billion, a P/E ratio of 14.87 and a beta of 0.75. TIER REIT has a 52-week low of $17.04 and a 52-week high of $24.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, September 13th. TIER REIT’s dividend payout ratio (DPR) is presently 45.86%.
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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