Metropolitan Life Insurance Co. NY Sells 28 Shares of TIER REIT Inc (TIER)

Metropolitan Life Insurance Co. NY reduced its position in shares of TIER REIT Inc (OTCMKTS:TIER) by 0.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 35,698 shares of the real estate investment trust’s stock after selling 28 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.07% of TIER REIT worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in TIER REIT by 0.3% in the first quarter. Wells Fargo & Company MN now owns 66,198 shares of the real estate investment trust’s stock valued at $1,149,000 after buying an additional 180 shares during the period. Arete Wealth Advisors LLC boosted its stake in TIER REIT by 5.6% in the first quarter. Arete Wealth Advisors LLC now owns 11,431 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 604 shares during the period. Honkamp Krueger Financial Services Inc. boosted its stake in TIER REIT by 5.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 14,066 shares of the real estate investment trust’s stock valued at $244,000 after buying an additional 765 shares during the period. California Public Employees Retirement System boosted its stake in TIER REIT by 0.7% in the first quarter. California Public Employees Retirement System now owns 128,700 shares of the real estate investment trust’s stock valued at $2,234,000 after buying an additional 900 shares during the period. Finally, Teachers Advisors LLC boosted its stake in TIER REIT by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 89,489 shares of the real estate investment trust’s stock valued at $1,556,000 after buying an additional 1,016 shares during the period.

Shares of TIER REIT Inc (OTCMKTS TIER) traded down 0.93% during midday trading on Friday, reaching $18.17. The company had a trading volume of 162,055 shares. The company has a market capitalization of $869.31 million and a P/E ratio of 9.25. TIER REIT Inc has a one year low of $14.06 and a one year high of $18.95. The company has a 50-day moving average price of $18.25 and a 200 day moving average price of $17.63.

TIER REIT (OTCMKTS:TIER) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The company had revenue of $54.55 million during the quarter, compared to analysts’ expectations of $52.39 million. TIER REIT had a return on equity of 59.24% and a net margin of 174.73%. Equities analysts anticipate that TIER REIT Inc will post $1.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, September 14th.

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Several brokerages recently commented on TIER. TheStreet upgraded TIER REIT from a “d+” rating to a “c” rating in a report on Monday, June 5th. Zacks Investment Research raised TIER REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, BMO Capital Markets set a $20.00 price target on TIER REIT and gave the company a “buy” rating in a research note on Thursday, May 11th.

About TIER REIT

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.

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

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