Wells Fargo & Company MN grew its position in Highwoods Properties Inc (NYSE:HIW) by 102.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,712 shares of the real estate investment trust’s stock after acquiring an additional 40,403 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Highwoods Properties worth $4,153,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in shares of Highwoods Properties in the second quarter valued at approximately $207,000. Parametrica Management Ltd acquired a new stake in shares of Highwoods Properties in the third quarter valued at approximately $288,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Highwoods Properties by 10.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,737 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 537 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Highwoods Properties in the second quarter valued at approximately $295,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Highwoods Properties in the second quarter valued at approximately $311,000. Institutional investors and hedge funds own 96.55% of the company’s stock.
Several equities research analysts have issued reports on the company. Bank of America lifted their price objective on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. SunTrust Banks set a $52.00 price objective on Highwoods Properties and gave the company a “hold” rating in a research note on Tuesday, October 24th. Edward Jones cut Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Highwoods Properties currently has a consensus rating of “Hold” and an average price target of $54.80.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.54. The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts predict that Highwoods Properties Inc will post 3.38 earnings per share for the current fiscal year.
In other Highwoods Properties news, Director Sherry A. Kellett sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $51.70, for a total transaction of $51,700.00. Following the transaction, the director now owns 11,744 shares in the company, valued at approximately $607,164.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sherry A. Kellett sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total value of $101,280.00. Following the transaction, the director now owns 13,744 shares in the company, valued at approximately $695,996.16. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
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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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