Bank of New York Mellon Corp lifted its position in shares of Highwoods Properties Inc (NYSE:HIW) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,840,749 shares of the real estate investment trust’s stock after buying an additional 142,454 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.78% of Highwoods Properties worth $93,383,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Highwoods Properties by 213.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 26,649 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 18,141 shares during the last quarter. Wealthstreet Investment Advisors LLC purchased a new stake in shares of Highwoods Properties during the 2nd quarter worth $203,000. Brown Advisory Inc. purchased a new stake in shares of Highwoods Properties during the 2nd quarter worth $206,000. Qube Research & Technologies Ltd purchased a new stake in shares of Highwoods Properties during the 2nd quarter worth $220,000. Finally, FTB Advisors Inc. purchased a new stake in shares of Highwoods Properties during the 2nd quarter worth $284,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE HIW opened at $43.89 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $4.55 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.09 and a beta of 0.76. Highwoods Properties Inc has a 1-year low of $41.34 and a 1-year high of $52.58.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Highwoods Properties had a return on equity of 7.87% and a net margin of 24.37%. The company had revenue of $179.42 million during the quarter, compared to analysts’ expectations of $173.78 million. During the same period last year, the business posted $0.86 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Highwoods Properties Inc will post 3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, November 8th. Highwoods Properties’s dividend payout ratio (DPR) is presently 56.40%.
A number of equities research analysts recently weighed in on HIW shares. SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the stock a “buy” rating in a research note on Monday, July 30th. Wood & Company restated a “sell” rating on shares of Highwoods Properties in a research note on Friday, August 10th. ValuEngine cut Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Finally, Zacks Investment Research cut Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $53.00.
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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 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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