SG Americas Securities LLC purchased a new position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 35,246 shares of the real estate investment trust's stock, valued at approximately $1,045,000.
Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in Highwoods Properties by 20.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust's stock valued at $99,869,000 after acquiring an additional 556,828 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Highwoods Properties by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust's stock valued at $65,235,000 after acquiring an additional 71,670 shares during the period. Northern Trust Corp lifted its stake in Highwoods Properties by 29.0% during the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock valued at $56,721,000 after acquiring an additional 416,791 shares during the period. Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust's stock valued at $47,154,000 after acquiring an additional 290,356 shares during the period. Finally, Sei Investments Co. lifted its stake in Highwoods Properties by 32.2% during the 4th quarter. Sei Investments Co. now owns 1,328,543 shares of the real estate investment trust's stock valued at $40,627,000 after acquiring an additional 323,946 shares during the period. Institutional investors own 96.31% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on HIW. Jefferies Financial Group began coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They set a "buy" rating and a $32.00 target price on the stock. Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their target price on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.83.
View Our Latest Research Report on HIW
Highwoods Properties Stock Performance
Shares of NYSE HIW traded down $0.28 during midday trading on Friday, hitting $31.54. 969,875 shares of the company's stock traded hands, compared to its average volume of 927,985. Highwoods Properties, Inc. has a 1 year low of $24.19 and a 1 year high of $36.78. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 19.59 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a fifty day moving average of $29.62 and a 200 day moving average of $29.39.
Highwoods Properties (NYSE:HIW - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. Highwoods Properties had a net margin of 21.53% and a return on equity of 7.43%. The firm had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.
Highwoods Properties Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.34%. The ex-dividend date was Monday, May 19th. Highwoods Properties's dividend payout ratio is 124.22%.
About Highwoods Properties
(
Free Report)
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded NYSE: HIW, fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.
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