InfraREIT, Inc. (HIFR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of InfraREIT, Inc. (NYSE:HIFR) from a hold rating to a strong sell rating in a research report released 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 brokerages have also issued reports on HIFR. BidaskClub lowered InfraREIT from a hold rating to a sell rating in a research note on Wednesday, November 1st. Evercore ISI restated an outperform rating and set a $24.00 price target on shares of InfraREIT in a research note on Saturday, September 30th. Finally, Royal Bank Of Canada restated a hold rating and set a $22.00 price target on shares of InfraREIT in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. InfraREIT has an average rating of Hold and an average price target of $23.67.

InfraREIT (NYSE:HIFR) opened at $20.81 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.90. InfraREIT has a 12 month low of $16.00 and a 12 month high of $23.22.

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The company also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Investors of record on Friday, September 29th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.00 annualized dividend and a yield of 4.81%. InfraREIT’s dividend payout ratio is 86.21%.

In other news, major shareholder Insurance & Annuity A. Teachers sold 44,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $22.35, for a total value of $983,400.00. Following the sale, the insider now directly owns 4,378,394 shares in the company, valued at approximately $97,857,105.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance & Annuity A. Teachers sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $21.98, for a total value of $3,297,000.00. Following the completion of the sale, the insider now owns 4,572,394 shares in the company, valued at $100,501,220.12. The disclosure for this sale can be found here. Insiders have sold 424,088 shares of company stock worth $9,397,774 over the last 90 days. Corporate insiders own 28.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of InfraREIT in the 3rd quarter valued at approximately $122,000. Great West Life Assurance Co. Can grew its stake in shares of InfraREIT by 89.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,878 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,778 shares during the period. SG Americas Securities LLC bought a new stake in shares of InfraREIT in the 3rd quarter valued at approximately $174,000. Principal Financial Group Inc. bought a new stake in shares of InfraREIT in the 2nd quarter valued at approximately $206,000. Finally, First Trust Advisors LP bought a new stake in shares of InfraREIT in the 3rd quarter valued at approximately $231,000. Institutional investors own 84.81% of the company’s stock.

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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