Rhumbline Advisers Raises Holdings in TIER REIT Inc (NYSE:TIER)

Rhumbline Advisers increased its holdings in shares of TIER REIT Inc (NYSE:TIER) by 2.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,590 shares of the real estate investment trust’s stock after purchasing an additional 1,658 shares during the quarter. Rhumbline Advisers owned 0.15% of TIER REIT worth $2,453,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of TIER REIT by 7.6% in the 4th quarter. BlackRock Inc. now owns 5,213,551 shares of the real estate investment trust’s stock valued at $107,557,000 after buying an additional 368,414 shares during the last quarter. Northern Trust Corp increased its position in shares of TIER REIT by 4.4% in the fourth quarter. Northern Trust Corp now owns 1,265,169 shares of the real estate investment trust’s stock worth $26,102,000 after purchasing an additional 53,293 shares during the period. Land & Buildings Investment Management LLC grew its position in TIER REIT by 130.9% in the fourth quarter. Land & Buildings Investment Management LLC now owns 1,134,630 shares of the real estate investment trust’s stock valued at $23,407,000 after acquiring an additional 643,330 shares during the last quarter. Victory Capital Management Inc. grew its position in TIER REIT by 14.2% in the fourth quarter. Victory Capital Management Inc. now owns 978,997 shares of the real estate investment trust’s stock valued at $20,197,000 after acquiring an additional 121,979 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in TIER REIT by 13.1% in the fourth quarter. Geode Capital Management LLC now owns 719,389 shares of the real estate investment trust’s stock valued at $14,840,000 after acquiring an additional 83,357 shares during the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott W. Fordham sold 11,250 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $28.45, for a total value of $320,062.50. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Shares of NYSE TIER remained flat at $$28.88 during midday trading on Wednesday. The stock had a trading volume of 3,374,756 shares, compared to its average volume of 488,053. The stock 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 52-week low of $19.59 and a 52-week high of $30.09. The firm has a 50 day simple moving average of $27.79.

A number of research firms have issued reports on TIER. Zacks Investment Research upgraded TIER REIT from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Tuesday, May 28th. JMP Securities lowered TIER REIT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 25th. Robert W. Baird lowered TIER REIT from an “outperform” rating to a “neutral” rating and set a $27.26 price target on the stock. in a research note on Tuesday, March 26th. Finally, BMO Capital Markets lifted their price target on TIER REIT from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target 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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