InfraREIT Inc. (NYSE:HIFR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $19.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 8.76% from the stock’s previous close.
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 analysts have also weighed in on the stock. Bank of America Corp. lowered shares of InfraREIT from a “buy” rating to a “neutral” rating in a research note on Friday, November 4th. Wells Fargo & Co. reissued a “buy” rating on shares of InfraREIT in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. InfraREIT has a consensus rating of “Buy” and a consensus price target of $21.00.
InfraREIT (NYSE:HIFR) traded up 0.63% during mid-day trading on Tuesday, hitting $17.47. 143,085 shares of the company traded hands. InfraREIT has a one year low of $13.61 and a one year high of $21.69. The stock has a market capitalization of $764.64 million, a price-to-earnings ratio of 15.31 and a beta of 0.40. The company’s 50-day moving average is $16.78 and its 200-day moving average is $17.45.
InfraREIT (NYSE:HIFR) last released its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.32 earnings per share 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%.
Several hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. purchased a new position in shares of InfraREIT during the second quarter worth $107,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of InfraREIT during the first quarter worth $172,000. Strs Ohio increased its position in shares of InfraREIT by 90.0% in the second quarter. Strs Ohio now owns 13,300 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 6,300 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of InfraREIT during the second quarter worth $257,000. Finally, Clinton Group Inc. increased its position in shares of InfraREIT by 36.8% in the second quarter. Clinton Group Inc. now owns 15,876 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 4,271 shares during the last quarter. Institutional investors own 81.07% of the company’s stock.
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.