Great West Life Assurance Co. Can raised its holdings in Highwoods Properties Inc (NYSE:HIW) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,053 shares of the real estate investment trust’s stock after buying an additional 16,748 shares during the period. Great West Life Assurance Co. Can owned about 0.13% of Highwoods Properties worth $4,730,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Hill Winds Capital LP bought a new stake in Highwoods Properties in the fourth quarter valued at approximately $3,869,000. Strs Ohio increased its stake in shares of Highwoods Properties by 8.0% during the fourth quarter. Strs Ohio now owns 161,641 shares of the real estate investment trust’s stock worth $6,253,000 after purchasing an additional 12,007 shares during the period. Pensionfund DSM Netherlands increased its stake in shares of Highwoods Properties by 29.2% during the fourth quarter. Pensionfund DSM Netherlands now owns 39,802 shares of the real estate investment trust’s stock worth $1,540,000 after purchasing an additional 9,000 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Highwoods Properties by 32.1% during the third quarter. Tower Research Capital LLC TRC now owns 13,223 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 3,216 shares during the period. Finally, Martingale Asset Management L P increased its stake in shares of Highwoods Properties by 16.9% during the third quarter. Martingale Asset Management L P now owns 404,116 shares of the real estate investment trust’s stock worth $19,099,000 after purchasing an additional 58,300 shares during the period. Hedge funds and other institutional investors own 93.16% of the company’s stock.
HIW has been the topic of a number of recent research reports. Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 22nd. ValuEngine lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Finally, Janney Montgomery Scott upgraded Highwoods Properties from a “neutral” rating to a “buy” rating in a research note on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.00.
In related news, Director Carlos E. Evans purchased 10,000 shares of Highwoods Properties stock in a transaction that occurred on Thursday, December 27th. The shares were acquired at an average price of $38.31 per share, with a total value of $383,100.00. Following the completion of the transaction, the director now directly owns 21,247 shares of the company’s stock, valued at approximately $813,972.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.
Shares of NYSE:HIW opened at $45.66 on Friday. The company has a market cap of $4.73 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.99 and a beta of 1.01. Highwoods Properties Inc has a 1 year low of $37.09 and a 1 year high of $52.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.20.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.86. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $176.79 million. Highwoods Properties had a return on equity of 7.68% and a net margin of 23.69%. The firm’s quarterly revenue was up 952.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, analysts anticipate that Highwoods Properties Inc will post 3.44 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 19th were given a dividend of $0.475 per share. The ex-dividend date was Friday, February 15th. This represents a $1.90 dividend on an annualized basis and a yield of 4.16%. This is an increase from Highwoods Properties’s previous quarterly dividend of $0.46. Highwoods Properties’s dividend payout ratio is currently 55.07%.
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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 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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