Amundi Pioneer Asset Management Inc. purchased a new position in shares of Highwoods Properties Inc (NYSE:HIW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 76,680 shares of the real estate investment trust’s stock, valued at approximately $3,903,000. Amundi Pioneer Asset Management Inc. owned 0.07% of Highwoods Properties as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Highwoods Properties by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 1,043,771 shares of the real estate investment trust’s stock worth $53,138,000 after acquiring an additional 41,511 shares during the period. Commerce Bank lifted its holdings in Highwoods Properties by 5.0% during the 4th quarter. Commerce Bank now owns 40,654 shares of the real estate investment trust’s stock worth $2,070,000 after purchasing an additional 1,935 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Highwoods Properties during the 4th quarter worth about $397,000. Standard Life Aberdeen plc lifted its holdings in Highwoods Properties by 13.6% during the 4th quarter. Standard Life Aberdeen plc now owns 712,585 shares of the real estate investment trust’s stock worth $36,282,000 after purchasing an additional 85,102 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in Highwoods Properties by 17.3% during the 4th quarter. State of Tennessee Treasury Department now owns 135,400 shares of the real estate investment trust’s stock worth $6,893,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.
A number of analysts recently issued reports on the company. ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the stock a “hold” rating in a report on Monday, January 22nd. Stifel Nicolaus reissued a “hold” rating and set a $46.00 price objective (down previously from $50.00) on shares of Highwoods Properties in a report on Tuesday, March 13th. Finally, Zacks Investment Research raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $51.67.
Shares of Highwoods Properties Inc (NYSE:HIW) opened at $42.50 on Friday. The stock has a market capitalization of $4,477.37, a PE ratio of 24.01, a P/E/G ratio of 4.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.40. Highwoods Properties Inc has a 1-year low of $41.83 and a 1-year high of $53.34.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.28). The company had revenue of $175.86 million for the quarter, compared to analysts’ expectations of $177.14 million. Highwoods Properties had a return on equity of 8.46% and a net margin of 26.20%. analysts expect that Highwoods Properties Inc will post 3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.85 annualized dividend and a dividend yield of 4.35%. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.44. Highwoods Properties’s dividend payout ratio (DPR) is presently 104.52%.
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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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