UBS Asset Management Americas Inc. raised its stake in shares of Highwoods Properties Inc. (NYSE:HIW) by 15.2% during the second quarter, Holdings Channel reports. The institutional investor owned 170,921 shares of the real estate investment trust’s stock after buying an additional 22,583 shares during the period. UBS Asset Management Americas Inc. owned 0.17% of Highwoods Properties worth $9,024,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of HIW. Public Employees Retirement Association of Colorado acquired a new stake in shares of Highwoods Properties during the second quarter valued at about $162,000. Envestnet Asset Management Inc. increased its stake in shares of Highwoods Properties by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,044 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 304 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Highwoods Properties by 10.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 400 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Highwoods Properties during the second quarter valued at about $234,000. Finally, Prudential PLC acquired a new stake in shares of Highwoods Properties during the first quarter valued at about $215,000.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded up 0.40% on Monday, reaching $52.57. 258,369 shares of the company’s stock were exchanged. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.82 and a beta of 0.98. Highwoods Properties Inc. has a 12 month low of $37.84 and a 12 month high of $56.23. The firm’s 50-day moving average price is $52.77 and its 200 day moving average price is $50.12.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. Highwoods Properties had a net margin of 78.77% and a return on equity of 5.22%. The firm had revenue of $166.86 million for the quarter, compared to analysts’ expectations of $164.24 million. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts predict that Highwoods Properties Inc. will post $3.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 15th were given a dividend of $0.425 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.70 annualized dividend and a yield of 3.25%. Highwoods Properties’s dividend payout ratio (DPR) is presently 31.89%.
Several equities research analysts have recently issued reports on the company. Capital One Financial Corp. downgraded Highwoods Properties from an “overweight” rating to an “equal weight” rating in a research report on Sunday, June 5th. Wood & Company reaffirmed a “buy” rating and issued a $62.00 price target on shares of Highwoods Properties in a research report on Thursday, August 4th. BTIG Research began coverage on Highwoods Properties in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Oppenheimer Holdings Inc. increased their target price on shares of Highwoods Properties from $55.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. increased their target price on shares of Highwoods Properties from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.20.
In other Highwoods Properties news, CEO Edward J. Fritsch sold 85,822 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $52.27, for a total transaction of $4,485,915.94. Following the sale, the chief executive officer now directly owns 471,533 shares of the company’s stock, valued at approximately $24,647,029.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Douglas Miller sold 12,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $51.46, for a total transaction of $617,520.00. Following the sale, the senior vice president now directly owns 68,115 shares in the company, valued at $3,505,197.90. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc is a real estate investment trust. The Company provides leasing, management, development, construction and other customer-related services for its properties and for third-parties. The Company is engaged in the business of operation, acquisition and development of real estate properties.
Want to see what other hedge funds are holding HIW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Highwoods Properties Inc. (NYSE:HIW).
Receive News & Ratings for Highwoods Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.