Canada Pension Plan Investment Board raised its position in Highwoods Properties, Inc. (NYSE:HIW) by 155.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,300 shares of the real estate investment trust’s stock after buying an additional 9,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Highwoods Properties were worth $752,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its position in Highwoods Properties by 485.2% in the fourth quarter. Martingale Asset Management L P now owns 108,900 shares of the real estate investment trust’s stock worth $5,556,000 after buying an additional 90,291 shares during the period. Renaissance Group LLC purchased a new position in Highwoods Properties during the fourth quarter worth approximately $371,000. Dimensional Fund Advisors LP raised its position in Highwoods Properties by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,954 shares of the real estate investment trust’s stock worth $68,655,000 after buying an additional 60,752 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Highwoods Properties by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,837 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 251 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Highwoods Properties by 0.8% in the fourth quarter. State Street Corp now owns 4,239,936 shares of the real estate investment trust’s stock worth $216,281,000 after buying an additional 34,638 shares in the last quarter.
Highwoods Properties, Inc. (NYSE:HIW) traded down 0.04% during mid-day trading on Monday, reaching $52.20. 806,474 shares of the company traded hands. The company’s 50 day moving average price is $50.80 and its 200 day moving average price is $50.64. Highwoods Properties, Inc. has a 12-month low of $45.83 and a 12-month high of $56.23. The firm has a market capitalization of $5.33 billion, a P/E ratio of 43.18 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Highwoods Properties had a return on equity of 5.80% and a net margin of 18.29%. The company had revenue of $169.41 million for the quarter, compared to the consensus estimate of $167.20 million. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts predict that Highwoods Properties, Inc. will post $1.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Wednesday, May 17th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, May 15th. Highwoods Properties’s payout ratio is currently 146.67%.
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HIW has been the topic of a number of recent analyst reports. ValuEngine raised shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 target price on shares of Highwoods Properties in a research note on Wednesday, April 19th. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $47.00 price target on shares of Highwoods Properties in a research note on Wednesday, February 22nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Highwoods Properties has a consensus rating of “Hold” and a consensus price target of $55.29.
In related news, COO Theodore J. Klinck sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the sale, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.
About Highwoods Properties
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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