Highwoods Properties, Inc. (NYSE:HIW) Director Sherry A. Kellett sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $51.70, for a total transaction of $51,700.00. Following the transaction, the director now directly owns 11,744 shares of the company’s stock, valued at $607,164.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Highwoods Properties, Inc. (NYSE HIW) traded up $0.15 during mid-day trading on Tuesday, reaching $51.70. 515,641 shares of the company traded hands, compared to its average volume of 534,789. Highwoods Properties, Inc. has a 12-month low of $48.42 and a 12-month high of $53.34. The company has a market cap of $5,316.29, a P/E ratio of 15.23, a P/E/G ratio of 3.28 and a beta of 0.87. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.90.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The firm had revenue of $180.19 million during the quarter, compared to the consensus estimate of $177.15 million. During the same period last year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. equities research analysts predict that Highwoods Properties, Inc. will post 3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.40%. The ex-dividend date was Monday, November 13th. Highwoods Properties’s payout ratio is presently 119.73%.
HIW has been the subject of several analyst reports. SunTrust Banks set a $52.00 price target on shares of Highwoods Properties and gave the company a “hold” rating in a report on Tuesday, October 24th. Edward Jones downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Bank of America lifted their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Janney Montgomery Scott initiated coverage on shares of Highwoods Properties in a report on Friday, September 8th. They set a “neutral” rating for the company. Finally, BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.80.
Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado increased its position in Highwoods Properties by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 124 shares in the last quarter. Ray Gerald L & Associates Ltd. acquired a new stake in Highwoods Properties in the 2nd quarter valued at about $203,000. Tudor Investment Corp ET AL acquired a new stake in Highwoods Properties in the 2nd quarter valued at about $207,000. Denver Investment Advisors LLC acquired a new stake in Highwoods Properties in the 2nd quarter valued at about $260,000. Finally, Parametrica Management Ltd acquired a new stake in Highwoods Properties in the 3rd quarter valued at about $288,000. Hedge funds and other institutional investors own 96.56% 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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