Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 11.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,297 shares of the real estate investment trust’s stock after selling 2,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Highwoods Properties were worth $959,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Highwoods Properties by 10.0% during the 2nd quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock worth $723,688,000 after acquiring an additional 1,301,682 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Highwoods Properties by 29.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock worth $197,937,000 after acquiring an additional 944,953 shares during the period. American Century Companies Inc. bought a new stake in shares of Highwoods Properties during the 2nd quarter worth approximately $28,443,000. Centersquare Investment Management LLC lifted its holdings in shares of Highwoods Properties by 15.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,228,640 shares of the real estate investment trust’s stock worth $163,788,000 after acquiring an additional 420,130 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Highwoods Properties during the 3rd quarter worth approximately $17,593,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.
A number of brokerages have recently weighed in on HIW. Wood & Company reaffirmed a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Finally, ValuEngine raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.00.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.32 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $179.42 million during the quarter, compared to the consensus estimate of $173.78 million. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, research analysts forecast that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, November 12th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.27%. The ex-dividend date is Thursday, November 8th. Highwoods Properties’s payout ratio is 56.40%.
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About Highwoods Properties
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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