Intrinsic value of Tier Reit - TIER

Previous Close

$18.17

  Intrinsic Value

$3.29

stock screener

  Rating & Target

str. sell

-82%

  Value-price divergence*

-31%

Previous close

$18.17

 
Intrinsic value

$3.29

 
Up/down potential

-82%

 
Rating

str. sell

 
Value-price divergence*

-31%

Our model is not good at valuating stocks of financial companies, such as TIER.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of TIER stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -13.83
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  243
  248
  254
  260
  267
  275
  284
  294
  305
  316
  328
  341
  355
  370
  385
  402
  419
  438
  458
  479
  501
  524
  548
  574
  601
  630
  660
  692
  725
  760
  797
Variable operating expenses, $m
 
  335
  342
  351
  361
  372
  384
  397
  411
  426
  443
  460
  479
  499
  520
  542
  566
  591
  618
  646
  676
  707
  740
  775
  812
  850
  891
  934
  979
  1,026
  1,076
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  298
  335
  342
  351
  361
  372
  384
  397
  411
  426
  443
  460
  479
  499
  520
  542
  566
  591
  618
  646
  676
  707
  740
  775
  812
  850
  891
  934
  979
  1,026
  1,076
Operating income, $m
  -55
  -87
  -89
  -91
  -94
  -96
  -100
  -103
  -107
  -111
  -115
  -119
  -124
  -129
  -135
  -141
  -147
  -153
  -160
  -168
  -175
  -183
  -192
  -201
  -210
  -220
  -231
  -242
  -254
  -266
  -279
EBITDA, $m
  57
  -78
  -80
  -82
  -84
  -87
  -90
  -93
  -96
  -100
  -104
  -108
  -112
  -117
  -122
  -127
  -132
  -138
  -145
  -151
  -158
  -165
  -173
  -181
  -190
  -199
  -208
  -218
  -229
  -240
  -252
Interest expense (income), $m
  38
  33
  34
  35
  36
  37
  38
  39
  41
  43
  44
  46
  48
  50
  53
  55
  57
  60
  63
  66
  69
  73
  76
  80
  84
  88
  93
  97
  102
  107
  113
Earnings before tax, $m
  -31
  -120
  -123
  -126
  -129
  -133
  -138
  -142
  -148
  -153
  -159
  -165
  -172
  -180
  -187
  -196
  -204
  -213
  -223
  -234
  -244
  -256
  -268
  -281
  -294
  -309
  -323
  -339
  -356
  -373
  -392
Tax expense, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -29
  -120
  -123
  -126
  -129
  -133
  -138
  -142
  -148
  -153
  -159
  -165
  -172
  -180
  -187
  -196
  -204
  -213
  -223
  -234
  -244
  -256
  -268
  -281
  -294
  -309
  -323
  -339
  -356
  -373
  -392

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  15
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,553
  1,569
  1,605
  1,646
  1,692
  1,744
  1,800
  1,861
  1,928
  1,999
  2,076
  2,158
  2,245
  2,339
  2,438
  2,543
  2,654
  2,772
  2,897
  3,029
  3,168
  3,315
  3,470
  3,633
  3,805
  3,986
  4,177
  4,378
  4,589
  4,811
  5,045
Adjusted assets (=assets-cash), $m
  1,538
  1,569
  1,605
  1,646
  1,692
  1,744
  1,800
  1,861
  1,928
  1,999
  2,076
  2,158
  2,245
  2,339
  2,438
  2,543
  2,654
  2,772
  2,897
  3,029
  3,168
  3,315
  3,470
  3,633
  3,805
  3,986
  4,177
  4,378
  4,589
  4,811
  5,045
Revenue / Adjusted assets
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
  0.158
Average production assets, $m
  83
  85
  87
  89
  91
  94
  97
  101
  104
  108
  112
  117
  121
  126
  132
  137
  143
  150
  157
  164
  171
  179
  187
  196
  206
  215
  226
  237
  248
  260
  273
Working capital, $m
  0
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -49
Total debt, $m
  827
  845
  867
  892
  920
  951
  986
  1,023
  1,063
  1,106
  1,153
  1,203
  1,256
  1,313
  1,373
  1,437
  1,504
  1,576
  1,652
  1,732
  1,816
  1,905
  1,999
  2,098
  2,203
  2,313
  2,428
  2,550
  2,679
  2,813
  2,955
Total liabilities, $m
  934
  952
  974
  999
  1,027
  1,058
  1,093
  1,130
  1,170
  1,213
  1,260
  1,310
  1,363
  1,420
  1,480
  1,544
  1,611
  1,683
  1,759
  1,839
  1,923
  2,012
  2,106
  2,205
  2,310
  2,420
  2,535
  2,657
  2,786
  2,920
  3,062
Total equity, $m
  619
  617
  631
  647
  665
  685
  707
  731
  758
  786
  816
  848
  882
  919
  958
  999
  1,043
  1,090
  1,139
  1,190
  1,245
  1,303
  1,364
  1,428
  1,495
  1,567
  1,642
  1,720
  1,803
  1,891
  1,983
Total liabilities and equity, $m
  1,553
  1,569
  1,605
  1,646
  1,692
  1,743
  1,800
  1,861
  1,928
  1,999
  2,076
  2,158
  2,245
  2,339
  2,438
  2,543
  2,654
  2,773
  2,898
  3,029
  3,168
  3,315
  3,470
  3,633
  3,805
  3,987
  4,177
  4,377
  4,589
  4,811
  5,045
Debt-to-equity ratio
  1.336
  1.370
  1.370
  1.380
  1.380
  1.390
  1.390
  1.400
  1.400
  1.410
  1.410
  1.420
  1.420
  1.430
  1.430
  1.440
  1.440
  1.450
  1.450
  1.450
  1.460
  1.460
  1.470
  1.470
  1.470
  1.480
  1.480
  1.480
  1.490
  1.490
  1.490
Adjusted equity ratio
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393
  0.393

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -29
  -120
  -123
  -126
  -129
  -133
  -138
  -142
  -148
  -153
  -159
  -165
  -172
  -180
  -187
  -196
  -204
  -213
  -223
  -234
  -244
  -256
  -268
  -281
  -294
  -309
  -323
  -339
  -356
  -373
  -392
Depreciation, amort., depletion, $m
  112
  8
  9
  9
  9
  9
  10
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
Funds from operations, $m
  35
  -111
  -114
  -117
  -120
  -124
  -128
  -132
  -137
  -142
  -148
  -154
  -160
  -167
  -174
  -182
  -190
  -199
  -208
  -217
  -227
  -238
  -249
  -261
  -274
  -287
  -301
  -316
  -331
  -347
  -364
Change in working capital, $m
  -16
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
Cash from operations, $m
  51
  -111
  -114
  -116
  -120
  -123
  -127
  -132
  -136
  -142
  -147
  -153
  -159
  -166
  -173
  -181
  -189
  -197
  -206
  -216
  -226
  -237
  -248
  -260
  -272
  -285
  -299
  -314
  -329
  -345
  -362
Maintenance CAPEX, $m
  0
  -8
  -8
  -9
  -9
  -9
  -9
  -10
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
New CAPEX, $m
  -60
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
Cash from investing activities, $m
  230
  -10
  -10
  -11
  -12
  -12
  -12
  -13
  -14
  -14
  -15
  -15
  -17
  -17
  -18
  -19
  -20
  -20
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -39
Free cash flow, $m
  281
  -121
  -124
  -127
  -131
  -135
  -140
  -145
  -150
  -156
  -162
  -169
  -176
  -183
  -191
  -200
  -209
  -218
  -228
  -239
  -250
  -262
  -274
  -287
  -301
  -316
  -331
  -347
  -364
  -382
  -401
Issuance/(repayment) of debt, $m
  -247
  18
  22
  25
  28
  31
  34
  37
  40
  43
  47
  50
  53
  57
  60
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  110
  116
  122
  128
  135
  142
Issuance/(repurchase) of shares, $m
  -1
  132
  137
  142
  147
  153
  160
  166
  174
  181
  189
  198
  207
  216
  226
  237
  248
  260
  272
  285
  299
  314
  329
  345
  362
  380
  398
  418
  439
  461
  483
Cash from financing (excl. dividends), $m  
  -248
  150
  159
  167
  175
  184
  194
  203
  214
  224
  236
  248
  260
  273
  286
  301
  316
  332
  348
  365
  383
  403
  423
  444
  466
  490
  514
  540
  567
  596
  625
Total cash flow (excl. dividends), $m
  33
  29
  35
  40
  45
  49
  54
  59
  64
  69
  74
  79
  84
  90
  95
  101
  107
  113
  120
  127
  134
  141
  149
  157
  165
  174
  183
  193
  203
  214
  225
Retained Cash Flow (-), $m
  57
  -132
  -137
  -142
  -147
  -153
  -160
  -166
  -174
  -181
  -189
  -198
  -207
  -216
  -226
  -237
  -248
  -260
  -272
  -285
  -299
  -314
  -329
  -345
  -362
  -380
  -398
  -418
  -439
  -461
  -483
Prev. year cash balance distribution, $m
 
  15
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -88
  -102
  -102
  -103
  -104
  -106
  -108
  -110
  -112
  -115
  -119
  -123
  -127
  -131
  -136
  -141
  -146
  -152
  -159
  -165
  -173
  -180
  -188
  -197
  -206
  -215
  -225
  -236
  -247
  -259
Discount rate, %
 
  9.60
  10.08
  10.58
  11.11
  11.67
  12.25
  12.86
  13.51
  14.18
  14.89
  15.64
  16.42
  17.24
  18.10
  19.01
  19.96
  20.96
  22.00
  23.10
  24.26
  25.47
  26.75
  28.08
  29.49
  30.96
  32.51
  34.13
  35.84
  37.63
  39.51
PV of cash for distribution, $m
 
  -80
  -84
  -76
  -68
  -60
  -53
  -46
  -40
  -34
  -29
  -24
  -20
  -16
  -13
  -10
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  86.3
  74.3
  63.9
  54.8
  47.0
  40.2
  34.3
  29.3
  25.0
  21.3
  18.1
  15.4
  13.0
  11.1
  9.4
  8.0
  6.7
  5.7
  4.8
  4.1
  3.5
  2.9
  2.5
  2.1
  1.8
  1.5
  1.3
  1.1
  0.9
  0.8

TIER REIT, Inc is real estate investment trust. The firm invests in the real estate markets of the United States. It primarily owns and operates high quality office properties located in selective markets throughout the United States. The firm makes investments in commercial office real estate to create its portfolio. The firm was formerly known as Behringer Harvard REIT I Inc. TIER REIT, Inc was formed in June 2002 and is based in Dallas, Texas with additional offices in Atlanta, Georgia; Chicago, Illinois; Louisville; Kentucky.

FINANCIAL RATIOS  of  Tier Reit (TIER)

Valuation Ratios
P/E Ratio -29.7
Price to Sales 3.5
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 16.9
Price to Free Cash Flow -95.8
Growth Rates
Sales Growth Rate -13.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -76.2%
Cap. Spend. - 3 Yr. Gr. Rate -10.6%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 133.6%
Total Debt to Equity 133.6%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.6%
Ret/ On Assets - 3 Yr. Avg. 1.5%
Return On Total Capital -1.8%
Ret/ On T. Cap. - 3 Yr. Avg. -1.5%
Return On Equity -4.5%
Return On Equity - 3 Yr. Avg. -3.7%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 54.7%
Gross Margin - 3 Yr. Avg. 52.2%
EBITDA Margin 49%
EBITDA Margin - 3 Yr. Avg. 48.3%
Operating Margin -22.6%
Oper. Margin - 3 Yr. Avg. -28.2%
Pre-Tax Margin -12.8%
Pre-Tax Margin - 3 Yr. Avg. -19.4%
Net Profit Margin -11.9%
Net Profit Margin - 3 Yr. Avg. -9.8%
Effective Tax Rate -3.2%
Eff/ Tax Rate - 3 Yr. Avg. -2.3%
Payout Ratio -117.2%

TIER stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TIER stock intrinsic value calculation we used $243 million for the last fiscal year's total revenue generated by Tier Reit. The default revenue input number comes from 2016 income statement of Tier Reit. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TIER stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.6%, whose default value for TIER is calculated based on our internal credit rating of Tier Reit, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tier Reit.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TIER stock the variable cost ratio is equal to 135%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TIER stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4% for Tier Reit.

Corporate tax rate of 27% is the nominal tax rate for Tier Reit. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TIER stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TIER are equal to 34.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Tier Reit operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TIER is equal to -6.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $619 million for Tier Reit - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 46.987 million for Tier Reit is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tier Reit at the current share price and the inputted number of shares is $0.9 billion.

RELATED COMPANIES Price Int.Val. Rating
EQC Equity Commonw 30.32 12.23  str.sell
CUZ Cousins Proper 9.13 1.47  str.sell
OFC Corporate Offi 32.77 4.01  str.sell
VNO Vornado Realty 73.91 12.17  str.sell
DEA Easterly Gover 19.70 3.96  str.sell
PKY Parkway 22.96 5.68  str.sell
GOV Government Pro 18.19 3.36  str.sell
FSP Franklin Stree 9.77 2.29  str.sell
WRE Washington Rea 32.68 3.58  str.sell

COMPANY NEWS

▶ TIER REIT Announces Second Quarter Financial Results   [Aug-07-17 04:38PM  Business Wire]
▶ TIER REIT Declares Third Quarter 2017 Distribution   [Aug-02-17 04:30PM  Business Wire]
▶ TIER REIT Announces Commencement of Domain 11 Development   [Jun-23-17 07:00AM  Business Wire]
▶ TIER REIT Announces First Quarter Financial Results   [May-10-17 04:35PM  Business Wire]
▶ TIER REIT Declares Second Quarter 2017 Distribution   [May-03-17 04:30PM  Business Wire]
▶ TIER REIT Announces Exit from Washington, D.C. Market   [Apr-27-17 04:30PM  Business Wire]
▶ TIER REIT Announces Sale of Eisenhower I   [Mar-13-17 04:30PM  Business Wire]
▶ TIER REIT Announces Sale of Three Parkway   [Mar-02-17 07:00AM  Business Wire]
▶ TIER REIT Declares First Quarter 2017 Distribution   [Jan-24-17 07:15AM  Business Wire]
▶ TIER REIT Completes Property Transactions   [Jan-18-17 05:16PM  Business Wire]
▶ Should You Buy TIER REIT Inc (TIER)?   [Dec-12-16 09:06AM  at Insider Monkey]
▶ TIER REIT Declares Fourth Quarter 2016 Distribution   [Nov-07-16 04:40PM  Business Wire]
▶ TIER REIT Sells Hurstbourne Business Center   [Oct-03-16 04:35PM  Business Wire]
▶ TIER REIT Declares Third Quarter 2016 Distribution   [Aug-04-16 04:30PM  Business Wire]
▶ Why Are These Five Stocks in Spotlight on Tuesday?   [Jun-21-16 10:51AM  at Insider Monkey]
▶ TIER REIT Announces Sale of FOUR40   [04:30PM  Business Wire]
▶ TIER REIT Declares Second Quarter 2016 Distribution   [May-05-16 04:30PM  Business Wire]
▶ TIER REIT Announces Credit Facility Increase   [05:00PM  Business Wire]
▶ TIER REIT Announces Sale of Lawson Commons   [Mar-01-16 05:30PM  Business Wire]
▶ TIER REIT Announces a First Quarter Distribution   [Feb-12-16 04:30PM  Business Wire]
▶ TIER REIT Announces a Third Quarter Distribution   [Sep-03  05:00PM  Business Wire]
▶ Dallas real estate investor buys huge chunk of The Domain   [Aug-03  07:15PM  at bizjournals.com]
Stock chart of TIER Financial statements of TIER
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.