First Trust Advisors LP lowered its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,459 shares of the real estate investment trust’s stock after selling 26,377 shares during the period. First Trust Advisors LP owned about 0.06% of Highwoods Properties worth $2,455,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Highwoods Properties in the 3rd quarter valued at approximately $350,000. SG Americas Securities LLC increased its holdings in Highwoods Properties by 32.0% in the 3rd quarter. SG Americas Securities LLC now owns 48,291 shares of the real estate investment trust’s stock valued at $2,282,000 after purchasing an additional 11,716 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Highwoods Properties by 17.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 23,717 shares of the real estate investment trust’s stock valued at $1,121,000 after purchasing an additional 3,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Highwoods Properties by 3.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 108,383 shares of the real estate investment trust’s stock valued at $5,122,000 after purchasing an additional 3,214 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Highwoods Properties by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock valued at $197,937,000 after purchasing an additional 944,953 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.
Shares of HIW stock opened at $45.66 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.20 and a quick ratio of 1.20. Highwoods Properties Inc has a 52 week low of $37.09 and a 52 week high of $52.00. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.86. Highwoods Properties had a net margin of 23.69% and a return on equity of 7.68%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $176.79 million. During the same quarter last year, the company posted $0.84 EPS. The firm’s revenue was up 952.5% 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 was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 19th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Friday, February 15th. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.46. Highwoods Properties’s dividend payout ratio (DPR) is currently 55.07%.
In other Highwoods Properties news, Director Carlos E. Evans purchased 10,000 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was bought at an average price of $38.31 per share, with a total value of $383,100.00. Following the transaction, the director now directly owns 21,247 shares of the company’s stock, valued at approximately $813,972.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.
Several research firms recently weighed in on HIW. Janney Montgomery Scott upgraded shares of Highwoods Properties from a “neutral” rating to a “buy” rating in a report on Thursday, December 20th. ValuEngine upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Zacks Investment Research downgraded shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Capital One Financial upgraded shares of Highwoods Properties from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.00.
Highwoods Properties 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 fully-integrated 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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