Rafferty Asset Management LLC reduced its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,895 shares of the real estate investment trust’s stock after selling 2,472 shares during the quarter. Rafferty Asset Management LLC’s holdings in Highwoods Properties were worth $755,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of HIW. BlackRock Inc. boosted its stake in shares of Highwoods Properties by 4,514.0% during the 1st quarter. BlackRock Inc. now owns 11,832,053 shares of the real estate investment trust’s stock worth $581,309,000 after acquiring an additional 11,575,615 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Highwoods Properties by 38.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,185,036 shares of the real estate investment trust’s stock worth $212,222,000 after acquiring an additional 1,160,930 shares in the last quarter. Credit Agricole S A boosted its stake in shares of Highwoods Properties by 1,672.4% during the 1st quarter. Credit Agricole S A now owns 1,175,091 shares of the real estate investment trust’s stock worth $38,387,000 after acquiring an additional 1,108,790 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Highwoods Properties by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock worth $166,240,000 after acquiring an additional 882,571 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Highwoods Properties by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 16,087,977 shares of the real estate investment trust’s stock worth $790,402,000 after acquiring an additional 749,245 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. ValuEngine lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Janney Montgomery Scott assumed coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.00.
Highwoods Properties, Inc. (NYSE HIW) opened at 52.33 on Tuesday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 41.73 and a beta of 0.88. The company has a 50-day moving average of $51.35 and a 200-day moving average of $50.81. Highwoods Properties, Inc. has a 52 week low of $45.83 and a 52 week high of $53.26.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.59. The business had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. Analysts anticipate that Highwoods Properties, Inc. will post $1.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 14th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Thursday, August 10th. Highwoods Properties’s dividend payout ratio is currently 141.94%.
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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