Highwoods Properties Inc (NYSE:HIW) EVP Jeffrey Douglas Miller sold 3,676 shares of the company’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $50.87, for a total transaction of $186,998.12. Following the completion of the sale, the executive vice president now directly owns 83,438 shares of the company’s stock, valued at approximately $4,244,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Jeffrey Douglas Miller also recently made the following trade(s):
- On Tuesday, June 12th, Jeffrey Douglas Miller sold 1,000 shares of Highwoods Properties stock. The stock was sold at an average price of $49.05, for a total transaction of $49,050.00.
Highwoods Properties traded up $0.32, hitting $50.73, during mid-day trading on Friday, Marketbeat Ratings reports. 790,242 shares of the company were exchanged, compared to its average volume of 782,738. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $5.21 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 4.88 and a beta of 0.79. Highwoods Properties Inc has a 12-month low of $41.34 and a 12-month high of $53.34.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, April 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $180.44 million during the quarter, compared to analyst estimates of $176.03 million. Highwoods Properties had a net margin of 25.90% and a return on equity of 8.40%. Highwoods Properties’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. sell-side analysts anticipate that Highwoods Properties Inc will post 3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th were given a dividend of $0.4625 per share. The ex-dividend date was Thursday, May 17th. This represents a $1.85 annualized dividend and a dividend yield of 3.65%. Highwoods Properties’s dividend payout ratio is presently 56.40%.
Several brokerages have weighed in on HIW. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Stifel Nicolaus raised shares of Highwoods Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $53.00 in a research note on Friday, June 1st. ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Friday, June 15th. Wells Fargo & Co increased their target price on shares of Highwoods Properties from $49.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 19th. Finally, DA Davidson set a $60.00 target price on shares of Highwoods Properties and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.71.
Several institutional investors and hedge funds have recently modified their holdings of the company. Heitman Real Estate Securities LLC acquired a new stake in shares of Highwoods Properties during the first quarter worth about $27,057,000. Xact Kapitalforvaltning AB lifted its position in shares of Highwoods Properties by 151.5% during the first quarter. Xact Kapitalforvaltning AB now owns 11,123 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 6,700 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Highwoods Properties by 13.5% during the first quarter. Legal & General Group Plc now owns 438,874 shares of the real estate investment trust’s stock worth $19,231,000 after purchasing an additional 52,253 shares in the last quarter. Brookfield Asset Management Inc. acquired a new stake in shares of Highwoods Properties during the first quarter worth about $3,554,000. Finally, TLP Group LLC lifted its position in shares of Highwoods Properties by 39.3% during the first quarter. TLP Group LLC now owns 5,151 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 1,453 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.
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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