Strs Ohio cut its stake in shares of Highwoods Properties Inc. (NYSE:HIW) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 146,080 shares of the real estate investment trust’s stock after selling 31,103 shares during the period. Strs Ohio’s holdings in Highwoods Properties were worth $7,713,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its position in 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 in the last quarter. Prudential PLC bought a new position in Highwoods Properties during the first quarter valued at $215,000. BlackRock Japan Co. Ltd boosted its position in 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 in the last quarter. Oakbrook Investments LLC bought a new position in Highwoods Properties during the second quarter valued at $264,000. Finally, LS Investment Advisors LLC boosted its position in Highwoods Properties by 76.4% in the second quarter. LS Investment Advisors LLC now owns 5,894 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 2,552 shares in the last quarter.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded down 2.26% during mid-day trading on Monday, reaching $50.94. 492,870 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $52.40 and a 200 day moving average price of $50.43. The firm has a market cap of $5.02 billion, a P/E ratio of 9.51 and a beta of 0.89. Highwoods Properties Inc. has a 52-week low of $38.08 and a 52-week high of $56.23.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 78.77% and a return on equity of 5.22%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Analysts forecast that Highwoods Properties Inc. will post $3.26 earnings per share 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 given a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.70 annualized dividend and a yield of 3.34%. Highwoods Properties’s payout ratio is currently 31.89%.
Several brokerages have recently commented on HIW. Wood & Company reaffirmed a “buy” rating and set a $62.00 target price on shares of Highwoods Properties in a report on Thursday, August 4th. BTIG Research began coverage on shares of Highwoods Properties in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Capital One Financial Corp. cut shares of Highwoods Properties from an “overweight” rating to an “equal weight” rating in a report on Sunday, June 5th. SunTrust Banks Inc. raised their target price on shares of Highwoods Properties from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Finally, Citigroup Inc. raised their target price on shares of Highwoods Properties from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock 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 dated Monday, September 26th. The shares were sold at an average price of $52.52, for a total value of $221,319.28. Following the completion of the sale, the senior vice president now directly owns 70,329 shares of the company’s stock, valued at approximately $3,693,679.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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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