Eii Capital Management Inc. lessened its holdings in Highwoods Properties Inc (NYSE:HIW) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,921 shares of the real estate investment trust’s stock after selling 3,958 shares during the period. Eii Capital Management Inc.’s holdings in Highwoods Properties were worth $1,465,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in Highwoods Properties in the 3rd quarter worth approximately $185,000. Advisors Asset Management Inc. increased its holdings in Highwoods Properties by 213.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 26,649 shares of the real estate investment trust’s stock worth $189,000 after acquiring an additional 18,141 shares in the last quarter. Wealthstreet Investment Advisors LLC purchased a new stake in Highwoods Properties in the 2nd quarter worth approximately $203,000. Brown Advisory Inc. purchased a new stake in Highwoods Properties in the 2nd quarter worth approximately $206,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Highwoods Properties in the 2nd quarter worth approximately $220,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.
Shares of HIW opened at $43.29 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.94. Highwoods Properties Inc has a 1 year low of $41.34 and a 1 year high of $52.58. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 3.04 and a beta of 0.72.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. The business had revenue of $179.42 million during the quarter, compared to analyst estimates of $173.78 million. During the same period last year, the firm posted $0.86 EPS. The company’s revenue was down .4% on a year-over-year basis. Analysts forecast that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Thursday, November 8th. Highwoods Properties’s dividend payout ratio (DPR) is currently 56.40%.
In other Highwoods Properties news, CFO Mark F. Mulhern sold 14,141 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $49.96, for a total transaction of $706,484.36. Following the completion of the sale, the chief financial officer now directly owns 81,780 shares of the company’s stock, valued at approximately $4,085,728.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.
HIW has been the subject of several analyst reports. ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday. Wood & Company reissued a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Finally, SunTrust Banks set a $51.00 target price on shares of Highwoods Properties and gave the stock a “buy” rating in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.00.
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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