TIER REIT Inc (NYSE:TIER) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its position in TIER REIT Inc (NYSE:TIER) by 38.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,208 shares of the real estate investment trust’s stock after selling 21,045 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.06% of TIER REIT worth $980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TIER. Creative Financial Designs Inc. ADV bought a new position in TIER REIT during the first quarter valued at approximately $27,000. Legacy Bridge LLC bought a new position in TIER REIT during the first quarter valued at approximately $38,000. Hanson McClain Inc. lifted its position in TIER REIT by 68.1% during the first quarter. Hanson McClain Inc. now owns 1,400 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 567 shares during the period. Ramsey Quantitative Systems bought a new position in TIER REIT during the fourth quarter valued at approximately $38,000. Finally, Certified Advisory Corp lifted its position in TIER REIT by 37.4% during the first quarter. Certified Advisory Corp now owns 1,925 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 524 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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 document filed with the Securities & Exchange Commission, which is available at this link. 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. Corporate insiders own 1.40% of the company’s stock.

Shares of NYSE TIER remained flat at $$28.88 during midday trading on Wednesday. 3,374,756 shares of the stock were exchanged, compared to its average volume of 488,053. The business has a 50-day moving average price of $27.81. The company has a market cap of $1.60 billion, a P/E ratio of 17.94 and a beta of 1.03. TIER REIT Inc has a 1 year low of $19.59 and a 1 year high of $30.09.

A number of research analysts recently weighed in on TIER shares. BMO Capital Markets increased their price objective on shares of TIER REIT from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. JMP Securities reaffirmed a “buy” rating and set a $27.00 target price on shares of TIER REIT in a report on Wednesday, February 27th. 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 report on Tuesday, March 26th. Finally, Zacks Investment Research raised shares of TIER REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.57.

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

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