Arizona State Retirement System increased its stake in shares of Highwoods Properties Inc (NYSE:HIW) by 2.3% in the 3rd quarter, Holdings Channel reports. The firm owned 73,462 shares of the real estate investment trust’s stock after buying an additional 1,658 shares during the period. Arizona State Retirement System’s holdings in Highwoods Properties were worth $3,472,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HIW. BlackRock Inc. raised its holdings in shares of Highwoods Properties by 10.0% during the second quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock valued at $723,688,000 after purchasing an additional 1,301,682 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Highwoods Properties during the second quarter valued at approximately $43,133,000. American Century Companies Inc. purchased a new position in shares of Highwoods Properties during the second quarter valued at approximately $28,443,000. Centersquare Investment Management LLC raised its holdings in shares of Highwoods Properties by 15.0% during the second quarter. Centersquare Investment Management LLC now owns 3,228,640 shares of the real estate investment trust’s stock valued at $163,788,000 after purchasing an additional 420,130 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Highwoods Properties during the third quarter valued at approximately $17,593,000. 92.04% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Wood & Company reissued a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th. Finally, SunTrust Banks set a $51.00 price objective on shares of Highwoods Properties and gave the company a “buy” rating in a report on Monday, July 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.00.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.32. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. The business had revenue of $179.42 million during the quarter, compared to analysts’ expectations of $173.78 million. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Highwoods Properties Inc will post 3.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be issued a dividend of $0.4625 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.85 dividend on an annualized basis and a yield of 4.22%. Highwoods Properties’s dividend payout ratio is currently 56.40%.
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Highwoods Properties Profile
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 fullyintegrated 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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