State Treasurer State of Michigan Decreases Stake in Highwoods Properties Inc (NYSE:HIW)

State Treasurer State of Michigan lessened its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 16.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 30,700 shares of the real estate investment trust’s stock after selling 6,200 shares during the period. State Treasurer State of Michigan’s holdings in Highwoods Properties were worth $1,268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa SB Investments Ltd. raised its position in shares of Highwoods Properties by 47.9% during the 1st quarter. Daiwa SB Investments Ltd. now owns 710 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 230 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Highwoods Properties by 110.1% during the 1st quarter. Quadrant Capital Group LLC now owns 912 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 478 shares in the last quarter. Private Capital Group LLC raised its position in shares of Highwoods Properties by 261.2% during the 1st quarter. Private Capital Group LLC now owns 1,062 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 768 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Highwoods Properties during the 1st quarter worth about $211,000. Finally, World Asset Management Inc acquired a new stake in shares of Highwoods Properties during the 1st quarter worth about $227,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

HIW has been the topic of several research analyst reports. TheStreet lowered Highwoods Properties from a “b-” rating to a “c+” rating in a research report on Monday, May 13th. ValuEngine raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Highwoods Properties currently has a consensus rating of “Buy”.

HIW opened at $43.84 on Wednesday. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 3.38 and a beta of 0.81. Highwoods Properties Inc has a 52 week low of $37.09 and a 52 week high of $50.81. The stock’s 50 day moving average price is $43.55. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.09 and a current ratio of 1.09.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.47). The firm had revenue of $184.10 million for the quarter, compared to analyst estimates of $180.20 million. Highwoods Properties had a return on equity of 6.13% and a net margin of 18.79%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. On average, sell-side analysts predict that Highwoods Properties Inc will post 3.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Monday, August 12th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, August 9th. Highwoods Properties’s dividend payout ratio (DPR) is 55.07%.

Highwoods Properties Company 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 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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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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