InfraREIT, Inc. (NYSE:HIFR) major shareholder Insurance & Annuity A. Teachers sold 42,735 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $22.49, for a total transaction of $961,110.15. Following the transaction, the insider now directly owns 4,827,358 shares in the company, valued at $108,567,281.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
InfraREIT, Inc. (HIFR) traded down 0.46% during trading on Thursday, reaching $21.45. 13,409 shares of the company’s stock traded hands. InfraREIT, Inc. has a one year low of $14.59 and a one year high of $23.12. The firm has a market cap of $939.04 million, a price-to-earnings ratio of 18.04 and a beta of 0.49. The company has a 50 day moving average of $20.58 and a 200 day moving average of $18.79.
InfraREIT (NYSE:HIFR) last posted its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.12. InfraREIT had a net margin of 28.31% and a return on equity of 6.28%. The firm had revenue of $40.42 million for the quarter. Equities research analysts predict that InfraREIT, Inc. will post $1.28 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Friday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Wednesday, June 28th. InfraREIT’s dividend payout ratio (DPR) is presently 83.33%.
A number of large investors have recently bought and sold shares of HIFR. Sterling Capital Management LLC increased its stake in InfraREIT by 8.4% in the second quarter. Sterling Capital Management LLC now owns 56,981 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 4,396 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of InfraREIT by 28.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 154,455 shares of the real estate investment trust’s stock valued at $2,958,000 after buying an additional 34,461 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of InfraREIT during the second quarter valued at $589,000. State Street Corp increased its stake in shares of InfraREIT by 10.8% in the second quarter. State Street Corp now owns 871,997 shares of the real estate investment trust’s stock valued at $16,697,000 after buying an additional 84,696 shares during the last quarter. Finally, Castleton Investment Management LLC bought a new stake in shares of InfraREIT during the second quarter valued at $1,537,000. 84.15% of the stock is owned by hedge funds and other institutional investors.
HIFR has been the topic of a number of recent research reports. Zacks Investment Research raised shares of InfraREIT from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Wolfe Research raised shares of InfraREIT from a “market perform” rating to an “outperform” rating in a research report on Monday, April 24th. BidaskClub raised shares of InfraREIT from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $22.00 price objective on shares of InfraREIT in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.50.
InfraREIT Company Profile
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.
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