Parametrica Management Ltd bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,538 shares of the real estate investment trust’s stock, valued at approximately $288,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Highwoods Properties by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 16,280,366 shares of the real estate investment trust’s stock worth $825,578,000 after acquiring an additional 192,389 shares during the period. Daiwa Securities Group Inc. increased its holdings in Highwoods Properties by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,503,381 shares of the real estate investment trust’s stock worth $228,367,000 after acquiring an additional 230,723 shares during the period. State Street Corp increased its holdings in Highwoods Properties by 0.3% during the 2nd quarter. State Street Corp now owns 4,340,884 shares of the real estate investment trust’s stock worth $220,127,000 after acquiring an additional 12,891 shares during the period. Bank of New York Mellon Corp increased its holdings in Highwoods Properties by 38.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,185,036 shares of the real estate investment trust’s stock worth $212,222,000 after acquiring an additional 1,160,930 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Highwoods Properties by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock worth $166,240,000 after acquiring an additional 882,571 shares during the period. 97.77% of the stock is currently owned by institutional investors and hedge funds.
HIW has been the topic of a number of analyst reports. BidaskClub lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Janney Montgomery Scott initiated coverage on shares of Highwoods Properties in a report on Friday, September 8th. They set a “neutral” rating on the stock. Bank of America Corporation upped their target price on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. Finally, SunTrust Banks, Inc. set a $52.00 target price on shares of Highwoods Properties and gave the stock a “hold” rating in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.80.
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Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $177.15 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 13th. Highwoods Properties’s dividend payout ratio is currently 119.73%.
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.
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