BMO Capital Believes TIER REIT (TIER) Won’t Stop Here
In a report released yesterday, John Kim from BMO Capital maintained a Buy rating on TIER REIT (TIER), with a price target of $24. The company’s shares closed yesterday at $24.71, close to its 52-week high of $24.98.
According to TipRanks.com, Kim is a 4-star analyst with an average return of 4.9% and a 59.5% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, National Health Investors, and Mid-America Apartment.
Currently, the analyst consensus on TIER REIT is a Moderate Buy with an average price target of $24.
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Based on TIER REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $22.53 million. In comparison, last year the company had a GAAP net loss of $10.2 million.
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TIER REIT, Inc. is self-managed, real estate investment trust, which focuses on owning commercial office properties in dynamic markets. Its investment efforts are concentrated in growth markets of Austin, Dallas, Houston, Charlotte, Nashville, Atlanta, and Denver. The company was founded in June 2002 and is headquartered in Dallas, TX.