InfraREIT Inc. (NYSE:HIFR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “InfraREIT, Inc. is a real estate investment trust which owns rate regulated electricity delivery infrastructure assets primarily in Texas. The company’s asset consists of Panhandle Assets, Stanton/Brady/Celeste Assets, McAllen Assets, Stanton Transmission Loop Assets and ERCOT Transmission Assets. InfraREIT, Inc. is based in Dallas, United States. “
Several other research firms have also issued reports on HIFR. Wells Fargo & Co. restated a “buy” rating on shares of InfraREIT in a report on Tuesday, August 16th. Bank of America Corp. lowered shares of InfraREIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.00.
InfraREIT (NYSE:HIFR) traded up 0.63% during mid-day trading on Monday, reaching $17.47. 143,085 shares of the company’s stock traded hands. The company has a 50 day moving average price of $16.79 and a 200-day moving average price of $17.46. The stock has a market cap of $764.64 million, a P/E ratio of 15.31 and a beta of 0.40. InfraREIT has a 12 month low of $13.61 and a 12 month high of $21.69.
InfraREIT (NYSE:HIFR) last released its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. InfraREIT had a net margin of 29.66% and a return on equity of 7.51%.
A number of hedge funds have recently bought and sold shares of HIFR. Panagora Asset Management Inc. acquired a new stake in InfraREIT during the second quarter valued at about $107,000. Adage Capital Partners GP L.L.C. acquired a new stake in InfraREIT during the first quarter valued at about $172,000. Strs Ohio increased its stake in InfraREIT by 90.0% in the second quarter. Strs Ohio now owns 13,300 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 6,300 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in InfraREIT during the second quarter valued at about $257,000. Finally, Clinton Group Inc. increased its stake in InfraREIT by 36.8% in the second quarter. Clinton Group Inc. now owns 15,876 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 4,271 shares during the last quarter. 81.07% of the stock is owned by institutional investors and hedge funds.
InfraREIT Company Profile
InfraREIT, Inc is a real estate investment trust. The Company owns electric transmission and distribution (T&D) assets in Texas. Its segment is rate-regulated electric T&D assets. The Company’s T&D 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.