InfraREIT (NYSE:HIFR) had its price target trimmed by Wells Fargo & Co from $22.00 to $21.00 in a research note issued to investors on Friday, October 19th. The firm currently has a market perform rating on the real estate investment trust’s stock.
Separately, ValuEngine raised InfraREIT from a hold rating to a buy rating in a research note on Wednesday, July 4th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $19.50.
Shares of InfraREIT stock traded up $0.03 during midday trading on Friday, reaching $21.03. 580,600 shares of the company’s stock traded hands, compared to its average volume of 294,557. InfraREIT has a 12 month low of $17.60 and a 12 month high of $22.83. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.28 and a current ratio of 0.28.
InfraREIT (NYSE:HIFR) last issued its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. InfraREIT had a return on equity of 9.77% and a net margin of 18.02%. The company had revenue of $48.93 million for the quarter. As a group, equities research analysts forecast that InfraREIT will post 1.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Friday, September 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Thursday, September 27th.
A number of hedge funds have recently bought and sold shares of the business. A.R.T. Advisors LLC lifted its holdings in InfraREIT by 19.4% in the first quarter. A.R.T. Advisors LLC now owns 15,377 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 2,500 shares during the period. Rhumbline Advisers raised its stake in shares of InfraREIT by 7.7% in the second quarter. Rhumbline Advisers now owns 52,547 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 3,746 shares during the period. Legal & General Group Plc raised its stake in shares of InfraREIT by 2.5% in the first quarter. Legal & General Group Plc now owns 155,023 shares of the real estate investment trust’s stock worth $3,012,000 after buying an additional 3,832 shares during the period. Aperio Group LLC raised its stake in shares of InfraREIT by 14.6% in the second quarter. Aperio Group LLC now owns 40,699 shares of the real estate investment trust’s stock worth $902,000 after buying an additional 5,182 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of InfraREIT by 43.0% in the third quarter. Acadian Asset Management LLC now owns 18,094 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 5,443 shares during the period. 84.82% of the stock is currently owned by institutional investors.
InfraREIT is engaged in owning and leasing rate-regulated electric transmission assets in the state of Texas and is structured as a real estate investment trust. The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc (a diversified holding company based in Dallas, Texas, and managed by the Ray L.
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