Thrivent Financial for Lutherans cut its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 5.6% during the first quarter, Holdings Channel reports. The fund owned 497,986 shares of the real estate investment trust’s stock after selling 29,382 shares during the period. Thrivent Financial for Lutherans’ holdings in Highwoods Properties were worth $21,822,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BB&T Securities LLC bought a new position in Highwoods Properties in the 4th quarter valued at $200,000. Wealthstreet Investment Advisors LLC bought a new position in Highwoods Properties in the 4th quarter valued at $204,000. Xact Kapitalforvaltning AB bought a new position in Highwoods Properties in the 4th quarter valued at $225,000. Advisor Group Inc. boosted its position in Highwoods Properties by 470.8% in the 4th quarter. Advisor Group Inc. now owns 4,452 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 3,672 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Highwoods Properties in the 4th quarter valued at $253,000. Institutional investors and hedge funds own 97.72% of the company’s stock.
Highwoods Properties opened at $44.20 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $4.64 billion, a PE ratio of 13.48, a P/E/G ratio of 4.36 and a beta of 0.74. Highwoods Properties, Inc. has a twelve month low of $44.33 and a twelve month high of $44.93.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The company had revenue of $180.44 million for the quarter, compared to the consensus estimate of $176.03 million. Highwoods Properties had a return on equity of 8.40% and a net margin of 25.90%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 EPS. analysts expect that Highwoods Properties, Inc. will post 3.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, May 17th. Highwoods Properties’s dividend payout ratio (DPR) is currently 56.40%.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th. ValuEngine lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. DA Davidson set a $60.00 price objective on Highwoods Properties and gave the company a “buy” rating in a research report on Wednesday, April 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price objective (down from $50.00) on shares of Highwoods Properties in a research report on Tuesday, March 13th. Finally, Wells Fargo assumed coverage on Highwoods Properties in a research report on Friday, April 20th. They issued an “outperform” rating and a $49.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.80.
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 fully-integrated 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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