New York State Common Retirement Fund raised its stake in shares of Highwoods Properties Inc (NYSE:HIW) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,700 shares of the real estate investment trust’s stock after buying an additional 8,000 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of Highwoods Properties worth $11,861,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in HIW. Vanguard Group Inc. increased its holdings in shares of Highwoods Properties by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 16,280,366 shares of the real estate investment trust’s stock worth $825,578,000 after purchasing an additional 192,389 shares in the last quarter. State Street Corp increased its holdings in shares of Highwoods Properties by 0.3% in the 2nd quarter. State Street Corp now owns 4,340,884 shares of the real estate investment trust’s stock worth $220,127,000 after purchasing an additional 12,891 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Highwoods Properties by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock worth $166,240,000 after purchasing an additional 882,571 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Highwoods Properties by 3.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,898,603 shares of the real estate investment trust’s stock worth $96,278,000 after purchasing an additional 68,509 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Highwoods Properties by 8.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,687,549 shares of the real estate investment trust’s stock worth $85,576,000 after purchasing an additional 128,915 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
In related news, Director Sherry A. Kellett sold 1,000 shares of Highwoods Properties stock in a transaction on Monday, December 11th. The stock was sold at an average price of $51.70, for a total transaction of $51,700.00. Following the transaction, the director now directly owns 11,744 shares in the company, valued at $607,164.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry A. Kellett sold 2,000 shares of Highwoods Properties stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total value of $101,280.00. Following the transaction, the director now owns 13,744 shares in the company, valued at $695,996.16. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
HIW has been the subject of a number of research analyst reports. SunTrust Banks set a $52.00 target price on Highwoods Properties and gave the stock a “hold” rating in a report on Tuesday, October 24th. Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Bank of America lifted their price objective on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. Finally, ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.80.
Shares of Highwoods Properties Inc (NYSE HIW) traded down $0.01 on Thursday, hitting $48.07. The company had a trading volume of 501,264 shares, compared to its average volume of 595,133. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.90. Highwoods Properties Inc has a one year low of $47.93 and a one year high of $53.34. The company has a market capitalization of $5,020.00, a price-to-earnings ratio of 33.38, a P/E/G ratio of 3.07 and a beta of 0.87.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.54. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. Highwoods Properties’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. research analysts anticipate that Highwoods Properties Inc will post 3.38 earnings per share for the current fiscal year.
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About Highwoods Properties
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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