Bank of New York Mellon Corp lifted its position in Highwoods Properties Inc (NYSE:HIW) by 8.4% in the 2nd quarter, Holdings Channel reports. The firm owned 1,840,749 shares of the real estate investment trust’s stock after purchasing an additional 142,454 shares during the quarter. Bank of New York Mellon Corp’s holdings in Highwoods Properties were worth $93,383,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in HIW. Advisors Asset Management Inc. raised its stake in shares of Highwoods Properties by 213.2% in the second quarter. Advisors Asset Management Inc. now owns 26,649 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 18,141 shares during the last quarter. Wealthstreet Investment Advisors LLC purchased a new position in shares of Highwoods Properties in the second quarter worth about $203,000. Brown Advisory Inc. purchased a new position in shares of Highwoods Properties in the second quarter worth about $206,000. Qube Research & Technologies Ltd purchased a new position in shares of Highwoods Properties in the second quarter worth about $220,000. Finally, FTB Advisors Inc. purchased a new position in shares of Highwoods Properties in the second quarter worth about $284,000. Hedge funds and other institutional investors own 92.04% of the company’s stock.
Several research analysts have recently issued reports on the company. ValuEngine cut Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Wood & Company restated a “sell” rating on shares of Highwoods Properties in a research note on Friday, August 10th. Finally, SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the stock a “buy” rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.00.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $179.42 million for the quarter, compared to analyst estimates of $173.78 million. Highwoods Properties had a return on equity of 7.87% and a net margin of 24.37%. Highwoods Properties’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Research analysts anticipate that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, November 12th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, November 8th. Highwoods Properties’s dividend payout ratio (DPR) is 56.40%.
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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 fullyintegrated 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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