Janney Montgomery Scott initiated coverage on shares of Highwoods Properties, Inc. (NYSE:HIW) in a research note published on Friday morning, Marketbeat.com reports. The firm issued a neutral rating on the real estate investment trust’s stock.
A number of other research analysts also recently commented on the stock. BidaskClub raised shares of Highwoods Properties from a sell rating to a hold rating in a research report on Friday, August 18th. ValuEngine downgraded shares of Highwoods Properties from a buy rating to a hold rating in a research report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $55.00.
Shares of Highwoods Properties (NYSE HIW) opened at 51.80 on Friday. The firm has a market capitalization of $5.35 billion, a P/E ratio of 41.31 and a beta of 0.88. The stock’s 50 day moving average is $51.10 and its 200 day moving average is $50.84. Highwoods Properties has a 1-year low of $45.83 and a 1-year high of $53.26.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million for the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Equities analysts predict that Highwoods Properties will post $1.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, August 10th. Highwoods Properties’s payout ratio is currently 141.94%.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $52.51, for a total transaction of $525,100.00. Following the transaction, the chief operating officer now directly owns 63,194 shares of the company’s stock, valued at approximately $3,318,316.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Independent Portfolio Consultants Inc. grew its position in Highwoods Properties by 17.5% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 408 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Highwoods Properties by 13.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 369 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Highwoods Properties by 4.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 124 shares during the last quarter. Ray Gerald L & Associates Ltd. purchased a new position in Highwoods Properties during the 2nd quarter worth $203,000. Finally, Tudor Investment Corp ET AL purchased a new position in Highwoods Properties during the 2nd quarter worth $207,000. 98.35% of the stock is currently owned by institutional investors.
Highwoods Properties Company Profile
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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