InfraREIT, Inc. (NYSE:HIFR) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday, August 5th.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of InfraREIT from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, July 26th. Wolfe Research upgraded shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research note on Monday, April 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.50.
InfraREIT (NYSE:HIFR) traded up 0.23% during mid-day trading on Friday, hitting $21.46. 69,453 shares of the stock traded hands. The company has a market cap of $939.48 million, a price-to-earnings ratio of 18.05 and a beta of 0.49. The firm’s 50-day moving average is $20.48 and its 200-day moving average is $18.74. InfraREIT has a 12-month low of $14.59 and a 12-month high of $23.12.
InfraREIT (NYSE:HIFR) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.12. InfraREIT had a return on equity of 6.28% and a net margin of 28.31%. The business had revenue of $40.42 million for the quarter. Equities research analysts expect that InfraREIT will post $1.28 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “InfraREIT, Inc. (NYSE:HIFR) Rating Lowered to Buy at BidaskClub” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://stocknewstimes.com/2017/08/15/infrareit-inc-nysehifr-stock-rating-lowered-by-bidaskclub-updated.html.
In related news, major shareholder Insurance & Annuity A. Teachers sold 50,000 shares of the company’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 sale, the insider now directly owns 5,526,235 shares of the company’s stock, valued at $109,364,190.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance & Annuity A. Teachers sold 65,336 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $19.72, for a total transaction of $1,288,425.92. Following the completion of the sale, the insider now directly owns 5,398,153 shares in the company, valued at $106,451,577.16. The disclosure for this sale can be found here. Insiders sold 853,841 shares of company stock worth $18,376,891 over the last ninety days. 28.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in shares of InfraREIT during the second quarter worth $206,000. Advisors Asset Management Inc. boosted its stake in 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 worth $207,000 after buying an additional 7,885 shares during the period. Clinton Group Inc. boosted its stake in InfraREIT by 7.0% in the first quarter. Clinton Group Inc. now owns 13,003 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 845 shares during the period. Tudor Investment Corp ET AL boosted its stake in InfraREIT by 22.7% in the second quarter. Tudor Investment Corp ET AL now owns 16,128 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 2,984 shares during the period. Finally, Voya Investment Management LLC boosted its stake in InfraREIT by 14.1% in the second quarter. Voya Investment Management LLC now owns 18,977 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 2,338 shares during the period. 84.15% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for InfraREIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InfraREIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
