Bank of Montreal Can decreased its position in shares of Highwoods Properties Inc (NYSE:HIW) by 75.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,308 shares of the real estate investment trust’s stock after selling 346,250 shares during the period. Bank of Montreal Can owned approximately 0.11% of Highwoods Properties worth $5,160,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc grew its position in shares of Highwoods Properties by 0.7% during the third quarter. Vanguard Group Inc now owns 15,331,831 shares of the real estate investment trust’s stock valued at $724,584,000 after purchasing an additional 104,562 shares in the last quarter. FMR LLC grew its position in shares of Highwoods Properties by 27.7% during the fourth quarter. FMR LLC now owns 4,409,992 shares of the real estate investment trust’s stock valued at $170,623,000 after purchasing an additional 955,882 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Highwoods Properties by 29.1% during the third 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Highwoods Properties by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,601,574 shares of the real estate investment trust’s stock valued at $61,965,000 after purchasing an additional 17,556 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Highwoods Properties by 3,769.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,536,094 shares in the last quarter. Hedge funds and other institutional investors own 93.67% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.60.
HIW opened at $44.12 on Friday. The stock has a market capitalization of $4.60 billion, a P/E ratio of 12.79, a P/E/G ratio of 3.30 and a beta of 0.97. Highwoods Properties Inc has a 12 month low of $37.09 and a 12 month high of $52.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.00.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.12). The company had revenue of $172.36 million during the quarter, compared to analysts’ expectations of $181.72 million. Highwoods Properties had a return on equity of 6.59% and a net margin of 20.42%. The company’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Analysts anticipate that Highwoods Properties Inc will post 3.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 13th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.90 annualized dividend and a yield of 4.31%. Highwoods Properties’s dividend payout ratio is currently 55.07%.
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 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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