Northwestern Mutual Investment Management Company LLC lowered its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,816 shares of the real estate investment trust’s stock after selling 705 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Highwoods Properties were worth $888,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HIW. Independent Portfolio Consultants Inc. increased its stake in shares of 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 acquiring an additional 408 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of 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 valued at $151,000 after purchasing an additional 369 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Highwoods Properties by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 124 shares during the last quarter. Ray Gerald L & Associates Ltd. acquired a new stake in shares of Highwoods Properties in the second quarter valued at about $203,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Highwoods Properties in the first quarter valued at about $210,000. Institutional investors own 98.35% of the company’s stock.
Shares of Highwoods Properties, Inc. (HIW) opened at 52.33 on Friday. The stock’s 50 day moving average is $51.28 and its 200 day moving average is $50.84. Highwoods Properties, Inc. has a 12-month low of $45.83 and a 12-month high of $53.26. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 41.73 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million during the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities analysts expect that Highwoods Properties, Inc. will post $1.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 14th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.76 annualized dividend and a yield of 3.36%. Highwoods Properties’s dividend payout ratio is currently 141.94%.
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HIW has been the topic of several research analyst reports. BidaskClub downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Janney Montgomery Scott started coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating for the company. Finally, ValuEngine cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Highwoods Properties currently has a consensus rating of “Hold” and a consensus price target of $55.00.
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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