Shell Asset Management Co. Holds Position in Highwoods Properties, Inc. (HIW)

Shell Asset Management Co. held its stake in Highwoods Properties, Inc. (NYSE:HIW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,937 shares of the real estate investment trust’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Highwoods Properties were worth $1,011,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. boosted its stake in Highwoods Properties by 17.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 408 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Highwoods Properties by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 369 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Highwoods Properties during the first quarter worth $210,000. Oppenheimer Asset Management Inc. purchased a new stake in Highwoods Properties during the first quarter worth $255,000. Finally, World Asset Management Inc boosted its stake in Highwoods Properties by 3.6% in the first quarter. World Asset Management Inc now owns 6,233 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.

Highwoods Properties, Inc. (NYSE HIW) traded down 0.90% during mid-day trading on Friday, reaching $50.90. 555,656 shares of the company were exchanged. The stock has a 50-day moving average of $50.57 and a 200 day moving average of $50.71. The firm has a market capitalization of $5.25 billion, a P/E ratio of 40.59 and a beta of 0.88. Highwoods Properties, Inc. has a 1-year low of $45.83 and a 1-year high of $54.25.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Equities research analysts forecast that Highwoods Properties, Inc. will post $1.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.76 annualized dividend and a yield of 3.46%. Highwoods Properties’s dividend payout ratio is currently 141.94%.

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HIW has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $55.00.

In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $52.51, for a total value of $525,100.00. Following the transaction, the chief operating officer now directly owns 63,194 shares in the company, valued at $3,318,316.94. The sale 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 Company Profile

Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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.

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

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