Ameriprise Financial Inc. lowered its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,249,692 shares of the real estate investment trust’s stock after selling 82,415 shares during the quarter. Ameriprise Financial Inc. owned 1.21% of Highwoods Properties worth $63,372,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in HIW. BlackRock Inc. lifted its position in Highwoods Properties by 4,514.0% during the first quarter. BlackRock Inc. now owns 11,832,053 shares of the real estate investment trust’s stock valued at $581,309,000 after purchasing an additional 11,575,615 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Highwoods Properties by 38.4% during the second quarter. Bank of New York Mellon Corp now owns 4,185,036 shares of the real estate investment trust’s stock valued at $212,222,000 after purchasing an additional 1,160,930 shares during the last quarter. Credit Agricole S A lifted its position in Highwoods Properties by 1,672.4% during the first quarter. Credit Agricole S A now owns 1,175,091 shares of the real estate investment trust’s stock valued at $38,387,000 after purchasing an additional 1,108,790 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Highwoods Properties by 36.8% during the second quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock valued at $166,240,000 after purchasing an additional 882,571 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Highwoods Properties by 4.9% during the first quarter. Vanguard Group Inc. now owns 16,087,977 shares of the real estate investment trust’s stock valued at $790,402,000 after purchasing an additional 749,245 shares during the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.
Several equities analysts have commented on HIW shares. BidaskClub lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Janney Montgomery Scott started coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They set a “neutral” rating for the company. Finally, ValuEngine lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.
Highwoods Properties, Inc. (NYSE:HIW) opened at 51.88 on Wednesday. The firm’s 50-day moving average is $51.35 and its 200 day moving average is $50.81. Highwoods Properties, Inc. has a 52-week low of $45.83 and a 52-week high of $53.26. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 41.37 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.59. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business had revenue of $177.28 million during the quarter, compared to analyst estimates of $172.28 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Highwoods Properties, Inc. will post $1.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 14th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, August 10th. Highwoods Properties’s payout ratio is 141.94%.
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Highwoods Properties Profile
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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