Highwoods Properties Inc (NYSE:HIW) – Analysts at Capital One Financial upped their Q1 2018 earnings estimates for Highwoods Properties in a report released on Thursday. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will earn $0.82 per share for the quarter, up from their prior forecast of $0.81.
Several other research firms have also recently weighed in on HIW. Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. SunTrust Banks set a $52.00 price target on shares of Highwoods Properties and gave the company a “hold” rating in a research note on Tuesday, October 24th. ValuEngine raised shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Stifel Nicolaus lowered their price objective on shares of Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and an average target price of $51.50.
Several large investors have recently bought and sold shares of HIW. Bank of New York Mellon Corp boosted its position in shares of Highwoods Properties by 16.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,888,598 shares of the real estate investment trust’s stock worth $254,647,000 after purchasing an additional 703,562 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Highwoods Properties by 1,344.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 509,911 shares of the real estate investment trust’s stock worth $25,960,000 after purchasing an additional 474,611 shares during the period. Koch Industries Inc. purchased a new position in Highwoods Properties in the 2nd quarter valued at approximately $401,000. BlackRock Inc. boosted its position in Highwoods Properties by 2.3% in the 4th quarter. BlackRock Inc. now owns 12,666,780 shares of the real estate investment trust’s stock valued at $644,865,000 after buying an additional 283,961 shares during the period. Finally, Putnam FL Investment Management Co. purchased a new position in Highwoods Properties in the 3rd quarter valued at approximately $12,635,000. 96.59% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Sherry A. Kellett sold 1,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $51.70, for a total transaction of $51,700.00. Following the completion of the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $607,164.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sherry A. Kellett sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the transaction, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, February 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.23%. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.44. Highwoods Properties’s dividend payout ratio (DPR) is presently 99.44%.
Highwoods Properties Company 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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