American International Group Inc. lessened its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 3.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,588 shares of the real estate investment trust’s stock after selling 6,984 shares during the period. American International Group Inc. owned 0.20% of Highwoods Properties worth $9,053,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in HIW. Millennium Management LLC lifted its position in shares of Highwoods Properties by 106.0% during the 4th quarter. Millennium Management LLC now owns 2,072,209 shares of the real estate investment trust’s stock valued at $105,496,000 after acquiring an additional 1,066,082 shares during the period. Renaissance Technologies LLC lifted its position in shares of Highwoods Properties by 160.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,405,618 shares of the real estate investment trust’s stock valued at $71,560,000 after acquiring an additional 866,218 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Highwoods Properties by 1,344.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 509,911 shares of the real estate investment trust’s stock valued at $25,960,000 after acquiring an additional 474,611 shares during the period. Franklin Resources Inc. lifted its position in shares of Highwoods Properties by 68.0% during the 4th quarter. Franklin Resources Inc. now owns 1,154,023 shares of the real estate investment trust’s stock valued at $58,751,000 after acquiring an additional 467,226 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Highwoods Properties by 113.6% during the 4th quarter. Deutsche Bank AG now owns 802,754 shares of the real estate investment trust’s stock valued at $40,866,000 after acquiring an additional 426,904 shares during the period. Institutional investors own 97.72% of the company’s stock.
Highwoods Properties opened at $44.26 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.47. Highwoods Properties, Inc. has a 1-year low of $41.34 and a 1-year high of $53.34. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 4.30 and a beta of 0.74.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Highwoods Properties had a net margin of 25.90% and a return on equity of 8.40%. The firm had revenue of $180.44 million for the quarter, compared to the consensus estimate of $176.03 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. equities research analysts anticipate that Highwoods Properties, Inc. will post 3.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Friday, May 18th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.85 annualized dividend and a yield of 4.18%. Highwoods Properties’s payout ratio is 56.40%.
A number of research analysts recently issued reports on HIW shares. DA Davidson set a $60.00 target price on shares of Highwoods Properties and gave the company a “buy” rating in a research report on Wednesday, April 25th. SunTrust Banks upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, March 9th. They noted that the move was a valuation call. Stifel Nicolaus dropped their target price on shares of Highwoods Properties from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. ValuEngine downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.80.
About Highwoods Properties
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 fully-integrated 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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