BidaskClub upgraded shares of Highwoods Properties, Inc. (NYSE:HIW) from a sell rating to a hold rating in a report released on Friday.
Separately, ValuEngine cut Highwoods Properties from a buy rating to a hold rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $55.00.
Shares of Highwoods Properties (NYSE HIW) opened at 51.24 on Friday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 40.86 and a beta of 0.88. The company has a 50-day moving average of $50.59 and a 200-day moving average of $50.72. Highwoods Properties has a 1-year low of $45.83 and a 1-year high of $54.25.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.59. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The company had revenue of $177.28 million during the quarter, compared to analysts’ expectations of $172.28 million. During the same period last year, the business posted $0.32 EPS. Highwoods Properties’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Highwoods Properties will post $1.19 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, August 10th. Highwoods Properties’s payout ratio is presently 141.94%.
In other news, COO Theodore J. Klinck sold 10,000 shares of Highwoods Properties stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $52.51, for a total value of $525,100.00. Following the completion of the transaction, the chief operating officer now owns 63,194 shares in the company, valued at approximately $3,318,316.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in HIW. Dynamic Technology Lab Private Ltd bought a new position in shares of Highwoods Properties during the second quarter valued at about $408,000. Koch Industries Inc. bought a new position in shares of Highwoods Properties during the second quarter valued at about $401,000. Verition Fund Management LLC boosted its position in shares of Highwoods Properties by 45.4% in the second quarter. Verition Fund Management LLC now owns 8,891 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 2,775 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Highwoods Properties by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 30,530 shares of the real estate investment trust’s stock valued at $1,548,000 after buying an additional 323 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Highwoods Properties by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 149,995 shares of the real estate investment trust’s stock valued at $7,607,000 after buying an additional 3,046 shares during the last quarter. Institutional investors and hedge funds own 99.45% of the company’s stock.
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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