Comerica Bank lowered its position in Highwoods Properties Inc (NYSE:HIW) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 76,059 shares of the real estate investment trust’s stock after selling 788 shares during the period. Comerica Bank’s holdings in Highwoods Properties were worth $3,509,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in HIW. Oregon Public Employees Retirement Fund lifted its holdings in Highwoods Properties by 3,769.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,536,094 shares in the last quarter. Norges Bank purchased a new position in Highwoods Properties in the 4th quarter valued at $43,858,000. FMR LLC lifted its holdings in Highwoods Properties by 27.7% in the 4th quarter. FMR LLC now owns 4,409,992 shares of the real estate investment trust’s stock valued at $170,623,000 after purchasing an additional 955,882 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Highwoods Properties by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock valued at $197,937,000 after purchasing an additional 944,953 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Highwoods Properties by 79.0% in the 4th quarter. Deutsche Bank AG now owns 709,844 shares of the real estate investment trust’s stock valued at $27,461,000 after purchasing an additional 313,218 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.
NYSE HIW opened at $44.29 on Friday. Highwoods Properties Inc has a 52 week low of $37.09 and a 52 week high of $52.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $4.59 billion, a PE ratio of 12.84, a P/E/G ratio of 3.33 and a beta of 0.97.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.12). Highwoods Properties had a return on equity of 6.59% and a net margin of 20.42%. The company had revenue of $172.36 million for the quarter, compared to analysts’ expectations of $181.72 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. Sell-side analysts expect that Highwoods Properties Inc will post 3.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.90 annualized dividend and a dividend yield of 4.29%. Highwoods Properties’s dividend payout ratio is presently 55.07%.
A number of research analysts have weighed in on HIW shares. TheStreet lowered Highwoods Properties from a “b-” rating to a “c+” rating in a report on Monday, May 13th. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Finally, Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $51.60.
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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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