First Manhattan Co. trimmed its position in shares of Highwoods Properties Inc (NYSE:HIW) by 70.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the real estate investment trust’s stock after selling 17,000 shares during the period. First Manhattan Co.’s holdings in Highwoods Properties were worth $330,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in HIW. Advisors Asset Management Inc. lifted its stake in Highwoods Properties by 213.2% during the second quarter. Advisors Asset Management Inc. now owns 26,649 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 18,141 shares in the last quarter. Wealthstreet Investment Advisors LLC acquired a new position in Highwoods Properties during the second quarter worth $203,000. Brown Advisory Inc. acquired a new position in Highwoods Properties during the second quarter worth $206,000. Qube Research & Technologies Ltd acquired a new position in Highwoods Properties during the second quarter worth $220,000. Finally, FTB Advisors Inc. acquired a new position in Highwoods Properties during the second quarter worth $284,000. Institutional investors own 92.40% of the company’s stock.
A number of analysts have recently weighed in on HIW shares. SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the stock a “buy” rating in a research report on Monday, July 30th. ValuEngine lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Wood & Company reaffirmed a “sell” rating on shares of Highwoods Properties in a research report on Friday, August 10th. Finally, Zacks Investment Research lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.00.
Highwoods Properties stock opened at $45.05 on Monday. Highwoods Properties Inc has a twelve month low of $41.34 and a twelve month high of $52.58. 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 firm has a market cap of $4.66 billion, a PE ratio of 13.73, a P/E/G ratio of 3.10 and a beta of 0.72.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.37). Highwoods Properties had a return on equity of 8.96% and a net margin of 27.68%. The company had revenue of $178.79 million for the quarter, compared to analysts’ expectations of $178.37 million. During the same period in the prior year, the company posted $0.90 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts predict that Highwoods Properties Inc will post 3.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Monday, November 12th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date is Thursday, November 8th. Highwoods Properties’s dividend payout ratio is currently 56.40%.
In related news, CFO Mark F. Mulhern sold 14,141 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 81,780 shares of the company’s stock, valued at $4,085,728.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.
Highwoods Properties Profile
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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