Standard Life Aberdeen plc grew its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 687,565 shares of the real estate investment trust’s stock after buying an additional 20,174 shares during the period. Standard Life Aberdeen plc’s holdings in Highwoods Properties were worth $33,625,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in HIW. Van ECK Associates Corp bought a new position in shares of Highwoods Properties in the fourth quarter worth about $29,000. DekaBank Deutsche Girozentrale purchased a new stake in Highwoods Properties in the 4th quarter worth about $106,000. Point72 Asset Management L.P. acquired a new stake in Highwoods Properties during the 3rd quarter worth about $108,000. Chicago Equity Partners LLC acquired a new stake in Highwoods Properties during the 4th quarter worth about $247,000. Finally, Atria Investments LLC acquired a new stake in Highwoods Properties during the 4th quarter worth about $268,000. 95.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Jeffrey Douglas Miller purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $35.99 per share, for a total transaction of $35,990.00. Following the completion of the transaction, the executive vice president now owns 95,730 shares of the company’s stock, valued at $3,445,322.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.32). Highwoods Properties had a return on equity of 6.31% and a net margin of 18.52%. The company had revenue of $192.07 million for the quarter, compared to analyst estimates of $192.66 million. During the same period in the prior year, the company earned $0.86 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts forecast that Highwoods Properties Inc will post 3.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.48 per share. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend was Friday, February 14th. Highwoods Properties’s dividend payout ratio is 57.66%.
A number of brokerages have recently weighed in on HIW. Capital One Financial reiterated an “overweight” rating on shares of Highwoods Properties in a report on Monday, February 3rd. Morgan Stanley boosted their price target on Highwoods Properties from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. ValuEngine raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Bank of America raised Highwoods Properties from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $55.00 in a report on Wednesday, March 4th. Finally, Janney Montgomery Scott cut shares of Highwoods Properties from a “buy” rating to a “neutral” rating and boosted their target price for the company from $48.00 to $49.00 in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $50.33.
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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