TIER REIT (NYSE:TIER) Hits New 52-Week High at $30.09

Shares of TIER REIT Inc (NYSE:TIER) reached a new 52-week high during trading on Friday . The stock traded as high as $30.09 and last traded at $214,466,000.00, with a volume of 3374756 shares traded. The stock had previously closed at $28.88.

Several analysts have commented on TIER shares. Zacks Investment Research cut shares of TIER REIT from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Robert W. Baird cut shares of TIER REIT from an “outperform” rating to a “neutral” rating and set a $27.26 target price for the company. in a research note on Tuesday, March 26th. JMP Securities cut shares of TIER REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 25th. Finally, BMO Capital Markets lifted their target price on shares of TIER REIT from $24.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. TIER REIT currently has an average rating of “Hold” and an average price target of $28.57.

The company’s 50 day simple moving average is $27.86. The company has a market capitalization of $1.60 billion, a P/E ratio of 17.94 and a beta of 1.03.

In related news, CEO Scott W. Fordham sold 11,250 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $28.45, for a total transaction of $320,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Schelin Telisa Webb sold 4,375 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $28.42, for a total transaction of $124,337.50. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV purchased a new stake in TIER REIT during the 1st quarter worth $27,000. Legacy Bridge LLC acquired a new position in TIER REIT in the 1st quarter worth $38,000. Hanson McClain Inc. lifted its holdings in TIER REIT by 68.1% in the 1st quarter. Hanson McClain Inc. now owns 1,400 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 567 shares in the last quarter. Certified Advisory Corp lifted its holdings in TIER REIT by 37.4% in the 1st quarter. Certified Advisory Corp now owns 1,925 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 524 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in TIER REIT in the 1st quarter worth $60,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

About TIER REIT (NYSE:TIER)

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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