Legal & General Group Plc Acquires 3,628 Shares of InfraREIT, Inc. (HIFR)

Legal & General Group Plc raised its stake in shares of InfraREIT, Inc. (NYSE:HIFR) by 14.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,511 shares of the real estate investment trust’s stock after buying an additional 3,628 shares during the period. Legal & General Group Plc owned about 0.07% of InfraREIT worth $532,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of InfraREIT by 218.3% in the first quarter. Advisors Asset Management Inc. now owns 11,497 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 7,885 shares during the last quarter. Clinton Group Inc. boosted its stake in shares of InfraREIT by 7.0% in the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 845 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of InfraREIT during the first quarter valued at approximately $418,000. American International Group Inc. boosted its stake in shares of InfraREIT by 7.1% in the first quarter. American International Group Inc. now owns 24,535 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 1,623 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of InfraREIT during the first quarter valued at approximately $455,000. Institutional investors own 83.96% of the company’s stock.

Shares of InfraREIT, Inc. (NYSE HIFR) traded down 3.68% during mid-day trading on Friday, hitting $20.93. 298,859 shares of the company’s stock traded hands. InfraREIT, Inc. has a 52 week low of $14.59 and a 52 week high of $23.12. The firm has a 50-day moving average of $20.13 and a 200 day moving average of $18.49. The company has a market cap of $916.25 million, a PE ratio of 17.60 and a beta of 0.49.

InfraREIT (NYSE:HIFR) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.12. The business had revenue of $40.42 million for the quarter. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. Equities research analysts predict that InfraREIT, Inc. will post $1.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.78%. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.

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Several analysts have commented on HIFR shares. Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, July 26th. Wolfe Research upgraded shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research report on Monday, April 24th. Finally, BidaskClub upgraded shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.00.

In related news, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $19.79, for a total value of $989,500.00. Following the transaction, the insider now owns 5,526,235 shares in the company, valued at $109,364,190.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Insurance & Annuity A. Teachers sold 54,964 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $21.11, for a total transaction of $1,160,290.04. Following the completion of the transaction, the insider now owns 4,722,394 shares in the company, valued at approximately $99,689,737.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 853,841 shares of company stock worth $18,376,891. 28.00% of the stock is owned by company insiders.

About InfraREIT

InfraREIT, Inc is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen.