Monarch Partners Asset Management LLC reduced its stake in shares of Highwoods Properties Inc. (NYSE:HIW) by 49.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,291 shares of the real estate investment trust’s stock after selling 161,709 shares during the period. Monarch Partners Asset Management LLC’s holdings in Highwoods Properties were worth $8,622,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Daiwa Securities Group Inc. raised its position in shares of Highwoods Properties by 17.2% in the second quarter. Daiwa Securities Group Inc. now owns 3,600,051 shares of the real estate investment trust’s stock valued at $190,083,000 after buying an additional 529,593 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Highwoods Properties during the second quarter valued at $454,000. Geode Capital Management LLC increased its position in shares of Highwoods Properties by 9.5% in the first quarter. Geode Capital Management LLC now owns 769,080 shares of the real estate investment trust’s stock valued at $36,769,000 after buying an additional 66,558 shares during the period. Prudential PLC acquired a new position in shares of Highwoods Properties during the first quarter valued at $215,000. Finally, BlackRock Inc. increased its position in shares of Highwoods Properties by 5.9% in the first quarter. BlackRock Inc. now owns 135,764 shares of the real estate investment trust’s stock valued at $6,490,000 after buying an additional 7,539 shares during the period.
Highwoods Properties Inc. (NYSE:HIW) traded down 2.26% during midday trading on Monday, reaching $50.94. 492,870 shares of the company were exchanged. The company has a 50 day moving average of $52.40 and a 200-day moving average of $50.43. Highwoods Properties Inc. has a 52-week low of $38.08 and a 52-week high of $56.23. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 9.51 and a beta of 0.89.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm earned $166.86 million during the quarter, compared to analysts’ expectations of $164.24 million. Highwoods Properties had a return on equity of 5.22% and a net margin of 78.77%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts anticipate that Highwoods Properties Inc. will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Monday, August 15th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.34%. The ex-dividend date was Thursday, August 11th. Highwoods Properties’s payout ratio is 31.89%.
Several equities analysts recently weighed in on HIW shares. Wood & Company reiterated a “buy” rating and issued a $62.00 price target on shares of Highwoods Properties in a report on Thursday, August 4th. Capital One Financial Corp. downgraded shares of Highwoods Properties from an “overweight” rating to an “equal weight” rating in a report on Sunday, June 5th. BTIG Research started coverage on shares of Highwoods Properties in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. SunTrust Banks Inc. increased their price target on shares of Highwoods Properties from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Finally, Citigroup Inc. increased their price target on shares of Highwoods Properties from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.20.
In other Highwoods Properties news, SVP Jeffrey Douglas Miller sold 4,214 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $52.52, for a total value of $221,319.28. Following the completion of the sale, the senior vice president now owns 70,329 shares in the company, valued at $3,693,679.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.10% of the company’s stock.
Highwoods Properties Company Profile
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.
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