Sumitomo Mitsui Asset Management Company LTD lowered its position in Highwoods Properties, Inc. (NYSE:HIW) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,808 shares of the real estate investment trust’s stock after selling 1,572 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Highwoods Properties were worth $395,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Capstone Asset Management Co. raised its stake in shares of Highwoods Properties by 8.4% in the first quarter. Capstone Asset Management Co. now owns 7,578 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 590 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Highwoods Properties by 3.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,700 shares of the real estate investment trust’s stock worth $1,263,000 after buying an additional 900 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Highwoods Properties by 28.3% in the first quarter. State of Alaska Department of Revenue now owns 25,510 shares of the real estate investment trust’s stock worth $1,252,000 after buying an additional 5,630 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Highwoods Properties by 1.4% in the first quarter. Retirement Systems of Alabama now owns 131,254 shares of the real estate investment trust’s stock worth $6,449,000 after buying an additional 1,843 shares in the last quarter. Finally, Van Cleef Asset Management Inc raised its stake in shares of Highwoods Properties by 2.5% in the first quarter. Van Cleef Asset Management Inc now owns 39,573 shares of the real estate investment trust’s stock worth $1,944,000 after buying an additional 961 shares in the last quarter. 98.77% of the stock is currently owned by hedge funds and other institutional investors.
Highwoods Properties, Inc. (NYSE HIW) opened at 49.98 on Friday. The stock has a 50 day moving average of $50.66 and a 200 day moving average of $50.76. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 39.86 and a beta of 0.88. Highwoods Properties, Inc. has a 52 week low of $45.83 and a 52 week high of $54.25.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.59. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The business had revenue of $177.28 million for the quarter, compared to analysts’ expectations of $172.28 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Highwoods Properties, Inc. will post $1.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 14th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, August 10th. Highwoods Properties’s payout ratio is presently 141.94%.
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HIW has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price objective on shares of Highwoods Properties in a report on Wednesday, April 19th. ValuEngine raised shares of Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Finally, BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and a consensus price target of $55.00.
In related news, COO Theodore J. Klinck sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
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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