57,900 Highwoods Properties, Inc. $HIW Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems cut its Highwoods Properties stake by 88.8%, selling 57,900 shares in the third quarter; it retained 7,300 shares valued at $212,000.
• Highwoods reported quarterly EPS of $0.29, beating the $0.21 consensus estimate, while revenue rose 8.1% year over year to $218.18 million.
• The company announced a $0.50 quarterly dividend, equivalent to a 6.4% annualized yield. Analysts’ consensus rating was “Hold,” with a $32 target price.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 88.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,300 shares of the real estate investment trust's stock after selling 57,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Highwoods Properties were worth $212,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HIW. Pension & Wealth Management Advisors Inc. acquired a new position in Highwoods Properties in the 3rd quarter worth approximately $28,000. Elevation Wealth Partners LLC grew its position in Highwoods Properties by 752.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 940 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Highwoods Properties during the 2nd quarter valued at $34,000. Allworth Financial LP acquired a new stake in Highwoods Properties during the 2nd quarter valued at $38,000. Finally, State of Wyoming purchased a new stake in shares of Highwoods Properties in the first quarter valued at $57,000. Hedge funds and other institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Up 0.1%

HIW stock opened at $31.49 on Monday. The company has a 50 day moving average of $30.16 and a two-hundred day moving average of $27.63. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 18.64 and a beta of 1.08. Highwoods Properties, Inc. has a 12-month low of $20.45 and a 12-month high of $35.44. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.38.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08. Highwoods Properties had a net margin of 22.56% and a return on equity of 7.68%. The business had revenue of $218.18 million for the quarter, compared to analysts' expectations of $216.39 million. During the same period in the previous year, the company posted $0.86 EPS. Highwoods Properties's revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Highwoods Properties, Inc. will post 3.57 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 6.4%. Highwoods Properties's payout ratio is 118.34%.

Analyst Ratings Changes

HIW has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Highwoods Properties in a research report on Thursday, October 29th. Mizuho set a $32.00 price target on Highwoods Properties in a report on Tuesday, September 8th. Wells Fargo & Company upped their price target on Highwoods Properties from $26.00 to $32.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Huntington initiated coverage on Highwoods Properties in a research note on Wednesday, October 28th. They issued a "hold" rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 price objective for the company. in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Highwoods Properties Profile

Highwoods Properties, Inc is a real estate investment trust that owns, develops, leases and manages office properties. Its portfolio is concentrated in business districts across the U.S. Sun Belt, including markets such as Atlanta, Charlotte, Nashville, Raleigh and Tampa.

The company provides office space and related property management services to businesses across a range of industries. Its work includes developing and maintaining properties as well as leasing space to commercial tenants.

Highwoods is headquartered in Raleigh, North Carolina.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.