Advisors Asset Management Inc. boosted its position in Highwoods Properties Inc. (NYSE:HIW) by 19.5% during the second quarter, Holdings Channel reports. The fund owned 12,681 shares of the real estate investment trust’s stock after buying an additional 2,068 shares during the period. Advisors Asset Management Inc.’s holdings in Highwoods Properties were worth $670,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in HIW. Norges Bank purchased a new stake in Highwoods Properties during the fourth quarter worth $34,708,000. Aperio Group LLC increased its stake in Highwoods Properties by 10.2% in the first quarter. Aperio Group LLC now owns 32,956 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 3,061 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Highwoods Properties by 31.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 69,300 shares of the real estate investment trust’s stock worth $3,313,000 after buying an additional 16,450 shares during the last quarter. Ramsey Quantitative Systems increased its stake in Highwoods Properties by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 14,514 shares of the real estate investment trust’s stock worth $694,000 after buying an additional 752 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Highwoods Properties by 0.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 77,220 shares of the real estate investment trust’s stock worth $3,692,000 after buying an additional 250 shares during the last quarter.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded down 0.08% during midday trading on Friday, reaching $52.36. The company had a trading volume of 505,854 shares. The firm’s 50 day moving average price is $52.77 and its 200-day moving average price is $50.12. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.78 and a beta of 0.98. Highwoods Properties Inc. has a 1-year low of $37.84 and a 1-year high of $56.23.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. The business earned $166.86 million during the quarter, compared to analysts’ expectations of $164.24 million. Highwoods Properties had a return on equity of 5.22% and a net margin of 78.77%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. Equities research analysts expect that Highwoods Properties Inc. will post $3.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 15th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 11th. Highwoods Properties’s dividend payout ratio is presently 31.89%.
Several analysts have weighed in on the company. Capital One Financial Corp. downgraded Highwoods Properties from an “overweight” rating to an “equal weight” rating in a research report on Sunday, June 5th. Citigroup Inc. boosted their price objective on Highwoods Properties from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. SunTrust Banks Inc. boosted their price objective on Highwoods Properties from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 15th. Oppenheimer Holdings Inc. boosted their price objective on Highwoods Properties from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. Finally, Wood & Company reiterated a “buy” rating and issued a $62.00 price objective on shares of Highwoods Properties in a research report on Thursday, August 4th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $52.20.
In other Highwoods Properties news, SVP Jeffrey Douglas Miller sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $51.46, for a total transaction of $617,520.00. Following the completion of the transaction, the senior vice president now owns 68,115 shares in the company, valued at approximately $3,505,197.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward J. Fritsch sold 85,822 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $52.27, for a total value of $4,485,915.94. Following the transaction, the chief executive officer now owns 471,533 shares of the company’s stock, valued at approximately $24,647,029.91. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Highwoods Properties Company Profile
Highwoods Properties, Inc is a real estate investment trust. The Company provides leasing, management, development, construction and other customer-related services for its properties and for third-parties. The Company is engaged in the business of operation, acquisition and development of real estate properties.
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