Nationwide Fund Advisors reduced its position in Highwoods Properties Inc (NYSE:HIW) by 40.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 193,636 shares of the real estate investment trust’s stock after selling 130,824 shares during the period. Nationwide Fund Advisors owned about 0.19% of Highwoods Properties worth $9,513,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Security Capital Research & Management Inc. boosted its position in shares of Highwoods Properties by 4.8% in the third quarter. Security Capital Research & Management Inc. now owns 2,175 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 100 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Highwoods Properties by 36.8% in the third quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 700 shares in the last quarter. BB&T Securities LLC acquired a new stake in Highwoods Properties during the third quarter valued at approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Highwoods Properties by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,676 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 449 shares during the last quarter. Finally, Renaissance Group LLC purchased a new stake in Highwoods Properties during the fourth quarter valued at about $371,000.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. Highwoods Properties had a return on equity of 5.03% and a net margin of 78.67%. The company had revenue of $169.41 million for the quarter, compared to analysts’ expectations of $167.20 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Wednesday, May 17th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, May 15th. Highwoods Properties’s dividend payout ratio (DPR) is 31.60%.
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Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Wood & Company reaffirmed a “buy” rating and set a $62.00 price objective on shares of Highwoods Properties in a report on Tuesday, January 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price objective on shares of Highwoods Properties in a report on Wednesday, April 19th. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $47.00 target price on shares of Highwoods Properties in a research report on Wednesday, February 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Highwoods Properties currently has an average rating of “Hold” and an average price target of $55.29.
In related news, COO Theodore J. Klinck sold 1,800 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $52.28, for a total value of $94,104.00. Following the transaction, the chief operating officer now owns 64,586 shares in the company, valued at $3,376,556.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Douglas Miller sold 18,409 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $52.26, for a total value of $962,054.34. Following the completion of the transaction, the executive vice president now owns 74,266 shares in the company, valued at approximately $3,881,141.16. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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