Teacher Retirement System of Texas raised its stake in shares of Highwoods Properties Inc. (NYSE:HIW) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 13,321 shares of the real estate investment trust’s stock after buying an additional 1,614 shares during the period. Teacher Retirement System of Texas’ holdings in Highwoods Properties were worth $703,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of HIW. Public Employees Retirement Association of Colorado acquired a new position in shares of Highwoods Properties during the second quarter valued at about $162,000. Canada Pension Plan Investment Board raised its position in shares of Highwoods Properties by 10.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 400 shares during the period. Prudential PLC acquired a new position in shares of Highwoods Properties during the first quarter valued at about $215,000. Cadence Capital Management LLC acquired a new position in shares of Highwoods Properties during the second quarter valued at about $234,000. Finally, BlackRock Japan Co. Ltd raised its position in shares of Highwoods Properties by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 5,083 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 83 shares during the period.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded up 0.3841% on Friday, hitting $52.3001. The stock had a trading volume of 151,475 shares. The stock has a 50 day moving average of $52.53 and a 200-day moving average of $50.31. Highwoods Properties Inc. has a 12 month low of $38.08 and a 12 month high of $56.23. The stock has a market cap of $5.16 billion, a PE ratio of 9.7666 and a beta of 0.98.
Highwoods Properties (NYSE:HIW) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The company 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 anticipate that Highwoods Properties Inc. will post $3.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 15th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, August 11th. Highwoods Properties’s payout ratio is presently 31.89%.
Several equities research analysts have recently commented on HIW shares. Wood & Company restated a “buy” rating and set a $62.00 price objective on shares of Highwoods Properties in a report on Thursday, August 4th. BTIG Research started coverage on Highwoods Properties in a report on Thursday, August 25th. They set a “neutral” rating for the company. Capital One Financial Corp. downgraded Highwoods Properties from an “overweight” rating to an “equal weight” rating in a report on Sunday, June 5th. 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 report on Friday, July 15th. Finally, Citigroup Inc. boosted their price objective on Highwoods Properties from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and a consensus target price of $52.20.
In other news, SVP Jeffrey Douglas Miller sold 4,214 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $52.52, for a total value of $221,319.28. Following the completion of the transaction, the senior vice president now owns 70,329 shares in the company, valued at approximately $3,693,679.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.10% of the stock is owned by insiders.
About Highwoods Properties
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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