Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Highwoods Properties Inc (NYSE:HIW) by 29.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,105 shares of the real estate investment trust’s stock after acquiring an additional 61,900 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.26% of Highwoods Properties worth $12,589,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in HIW. Oregon Public Employees Retirement Fund raised its holdings in shares of Highwoods Properties by 3,769.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,536,094 shares in the last quarter. Norges Bank bought a new position in Highwoods Properties during the fourth quarter valued at about $43,858,000. FMR LLC raised its holdings in Highwoods Properties by 27.7% during the fourth quarter. FMR LLC now owns 4,409,992 shares of the real estate investment trust’s stock valued at $170,623,000 after buying an additional 955,882 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Highwoods Properties by 29.1% during the third quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock valued at $197,937,000 after buying an additional 944,953 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Highwoods Properties by 79.0% during the fourth quarter. Deutsche Bank AG now owns 709,844 shares of the real estate investment trust’s stock valued at $27,461,000 after buying an additional 313,218 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
HIW has been the topic of several recent research reports. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 22nd. Finally, TheStreet lowered Highwoods Properties from a “b-” rating to a “c+” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.60.
Shares of NYSE:HIW traded up $0.12 during midday trading on Wednesday, hitting $43.98. The company’s stock had a trading volume of 327,201 shares, compared to its average volume of 662,568. The company has a market cap of $4.59 billion, a P/E ratio of 12.75, a P/E/G ratio of 3.30 and a beta of 0.97. Highwoods Properties Inc has a fifty-two week low of $37.09 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.12 and a current ratio of 1.12.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.12). The business had revenue of $172.36 million during the quarter, compared to analyst estimates of $181.72 million. Highwoods Properties had a net margin of 20.42% and a return on equity of 6.59%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts predict that Highwoods Properties Inc will post 3.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 13th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Friday, May 10th. Highwoods Properties’s dividend payout ratio is currently 55.07%.
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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