Fmr LLC lowered its stake in Highwoods Properties Inc (NYSE:HIW) by 20.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,691,527 shares of the real estate investment trust’s stock after selling 973,931 shares during the quarter. Fmr LLC’s holdings in Highwoods Properties were worth $187,271,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Highwoods Properties by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,566,865 shares of the real estate investment trust’s stock worth $79,486,000 after buying an additional 9,019 shares during the last quarter. Brown Advisory Inc. bought a new position in Highwoods Properties during the 2nd quarter valued at about $206,000. Janus Henderson Group PLC grew its holdings in Highwoods Properties by 144.2% during the 2nd quarter. Janus Henderson Group PLC now owns 315,683 shares of the real estate investment trust’s stock valued at $16,018,000 after purchasing an additional 186,435 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Highwoods Properties by 13.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,892 shares of the real estate investment trust’s stock valued at $755,000 after purchasing an additional 1,757 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Highwoods Properties by 10.0% during the 2nd quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock valued at $723,688,000 after purchasing an additional 1,301,682 shares during the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.
HIW has been the topic of several analyst reports. SunTrust Banks set a $51.00 price target on shares of Highwoods Properties and gave the company a “buy” rating in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Wood & Company reiterated a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th. 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 company’s stock. Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $53.00.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $179.42 million for the quarter, compared to the consensus estimate of $173.78 million. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities analysts forecast that Highwoods Properties Inc will post 3.44 EPS for the current 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 given a $0.4625 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.85 annualized dividend and a yield of 4.29%. Highwoods Properties’s dividend payout ratio (DPR) is 56.40%.
In other Highwoods Properties news, CFO Mark F. Mulhern sold 14,141 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $49.96, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.
Highwoods Properties Company 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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