Eagle Asset Management Inc. trimmed its stake in Highwoods Properties Inc (NYSE:HIW) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,699 shares of the real estate investment trust’s stock after selling 5,532 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.34% of Highwoods Properties worth $18,108,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealthstreet Investment Advisors LLC acquired a new position in Highwoods Properties in the 4th quarter valued at $204,000. Public Employees Retirement Association of Colorado lifted its holdings in Highwoods Properties by 74.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 5,574 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 2,375 shares during the period. Parametrica Management Ltd acquired a new position in Highwoods Properties during the 3rd quarter worth about $288,000. Janus Henderson Group PLC acquired a new position in Highwoods Properties during the 2nd quarter worth about $295,000. Finally, Signition LP acquired a new position in shares of Highwoods Properties in the 4th quarter valued at about $337,000. 96.56% of the stock is owned by institutional investors.
HIW has been the topic of a number of research reports. ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. SunTrust Banks set a $51.00 target price on Highwoods Properties and gave the company a “hold” rating in a report on Monday, January 22nd. Stifel Nicolaus reduced their target price on Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, Zacks Investment Research lowered Highwoods Properties from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $51.67.
Highwoods Properties Inc (HIW) traded up $0.03 on Wednesday, reaching $43.75. The company had a trading volume of 365,284 shares, compared to its average volume of 742,306. Highwoods Properties Inc has a 1-year low of $41.83 and a 1-year high of $53.34. The company has a market capitalization of $4,590.98, a PE ratio of 24.70, a PEG ratio of 4.40 and a beta of 0.80. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.91.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.28). The company had revenue of $175.86 million for the quarter, compared to the consensus estimate of $177.14 million. Highwoods Properties had a net margin of 26.20% and a return on equity of 8.46%. equities research analysts predict that Highwoods Properties Inc will post 3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 4.23%. Highwoods Properties’s dividend payout ratio (DPR) is 104.52%.
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About Highwoods Properties
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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