Teachers Insurance & Annuity Association of America continued to hold its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,127 shares of the real estate investment trust’s stock at the end of the first quarter. Teachers Insurance & Annuity Association of America owned approximately 0.10% of Highwoods Properties worth $5,165,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Highwoods Properties during the fourth quarter worth about $2,392,000. Cadence Capital Management LLC boosted its stake in shares of Highwoods Properties by 45.4% in the fourth quarter. Cadence Capital Management LLC now owns 7,708 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 2,406 shares in the last quarter. Comerica Bank boosted its stake in shares of Highwoods Properties by 6.9% in the fourth quarter. Comerica Bank now owns 84,254 shares of the real estate investment trust’s stock worth $4,342,000 after buying an additional 5,451 shares in the last quarter. State Street Corp boosted its stake in shares of Highwoods Properties by 0.8% in the fourth quarter. State Street Corp now owns 4,239,936 shares of the real estate investment trust’s stock worth $216,281,000 after buying an additional 34,638 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Highwoods Properties by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,837 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 251 shares in the last quarter.
Highwoods Properties, Inc. (NYSE HIW) traded down 0.25% on Tuesday, hitting $52.07. The company had a trading volume of 406,965 shares. The stock has a 50 day moving average of $50.84 and a 200-day moving average of $50.70. Highwoods Properties, Inc. has a one year low of $45.83 and a one year high of $56.23. The stock has a market capitalization of $5.31 billion, a PE ratio of 43.07 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. The business had revenue of $169.41 million for the quarter, compared to analyst estimates of $167.20 million. Highwoods Properties had a return on equity of 5.80% and a net margin of 18.29%. Highwoods Properties’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. Equities analysts anticipate that Highwoods Properties, Inc. will post $1.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Wednesday, May 17th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, May 15th. This represents a $1.76 dividend on an annualized basis and a yield of 3.38%. Highwoods Properties’s dividend payout ratio (DPR) is currently 146.67%.
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A number of equities research analysts have recently issued reports on HIW shares. Jefferies Group LLC reiterated a “hold” rating and set a $47.00 price objective on shares of Highwoods Properties in a research note on Wednesday, February 22nd. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price objective on shares of Highwoods Properties in a research note on Wednesday, April 19th. ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.29.
In related news, COO Theodore J. Klinck sold 10,000 shares of Highwoods Properties stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the sale, the chief operating officer now directly owns 63,194 shares in the company, valued at $3,318,316.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.
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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