Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Highwoods Properties Inc (NYSE:HIW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 27,916 shares of the real estate investment trust’s stock, valued at approximately $1,416,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Highwoods Properties by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,230 shares of the real estate investment trust’s stock valued at $4,304,000 after buying an additional 3,293 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Highwoods Properties in the 2nd quarter valued at about $2,739,000. State Board of Administration of Florida Retirement System boosted its position in shares of Highwoods Properties by 9.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 119,314 shares of the real estate investment trust’s stock valued at $5,228,000 after purchasing an additional 10,767 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Highwoods Properties during the 2nd quarter valued at about $2,514,000. Finally, Clinton Group Inc. boosted its position in shares of Highwoods Properties by 24.2% during the 1st quarter. Clinton Group Inc. now owns 45,097 shares of the real estate investment trust’s stock valued at $1,976,000 after purchasing an additional 8,773 shares in the last quarter. Hedge funds and other institutional investors own 93.41% of the company’s stock.
Several brokerages recently commented on HIW. Wood & Company restated a “sell” rating on shares of Highwoods Properties in a research report on Friday, August 10th. SunTrust Banks set a $51.00 target price on Highwoods Properties and gave the company a “buy” rating in a research report on Monday, July 30th. ValuEngine upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. Zacks Investment Research lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Finally, Wells Fargo & Co upped their target price on Highwoods Properties from $49.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.71.
Shares of Highwoods Properties stock opened at $50.39 on Monday. Highwoods Properties Inc has a one year low of $41.34 and a one year high of $53.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $5.11 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 4.83 and a beta of 0.76.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.37). Highwoods Properties had a net margin of 27.68% and a return on equity of 8.96%. The business had revenue of $178.79 million for the quarter, compared to the consensus estimate of $178.37 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. equities research analysts expect that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Monday, August 13th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 10th. This represents a $1.85 annualized dividend and a dividend yield of 3.67%. Highwoods Properties’s payout ratio is 56.40%.
In other Highwoods Properties news, EVP Jeffrey Douglas Miller sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $49.05, for a total value of $49,050.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark F. Mulhern sold 14,141 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.96, for a total value of $706,484.36. Following the completion of the transaction, the chief financial officer now owns 81,780 shares in the company, valued at approximately $4,085,728.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,817 shares of company stock worth $942,532. Corporate insiders own 2.00% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fullyintegrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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