Bank of New York Mellon Corp Increases Stock Position in Highwoods Properties Inc (NYSE:HIW)

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Bank of New York Mellon Corp lifted its holdings in Highwoods Properties Inc (NYSE:HIW) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,471,271 shares of the real estate investment trust’s stock after purchasing an additional 134,162 shares during the period. Bank of New York Mellon Corp owned about 1.42% of Highwoods Properties worth $52,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HIW. First Trust Advisors LP lifted its position in shares of Highwoods Properties by 1.7% in the 1st quarter. First Trust Advisors LP now owns 64,564 shares of the real estate investment trust’s stock worth $3,020,000 after purchasing an additional 1,105 shares during the period. Strs Ohio lifted its position in shares of Highwoods Properties by 7.9% in the 4th quarter. Strs Ohio now owns 140,207 shares of the real estate investment trust’s stock worth $6,857,000 after purchasing an additional 10,258 shares during the period. State of Michigan Retirement System lifted its position in shares of Highwoods Properties by 1.3% in the 4th quarter. State of Michigan Retirement System now owns 30,500 shares of the real estate investment trust’s stock worth $1,492,000 after purchasing an additional 400 shares during the period. Meritage Portfolio Management lifted its position in shares of Highwoods Properties by 44.2% in the 4th quarter. Meritage Portfolio Management now owns 95,263 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 29,218 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in shares of Highwoods Properties by 51.4% in the 4th quarter. Virginia Retirement Systems ET AL now owns 99,900 shares of the real estate investment trust’s stock worth $4,886,000 after purchasing an additional 33,900 shares during the period. 94.71% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the stock. Wood & Company raised shares of Highwoods Properties from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 4th. SunTrust Banks boosted their price objective on shares of Highwoods Properties from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Bank of America upgraded shares of Highwoods Properties from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $55.00 in a research note on Wednesday, March 4th. Mizuho upgraded shares of Highwoods Properties from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $51.00 to $45.00 in a research note on Tuesday, April 28th. Finally, ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $44.75.

In related news, EVP Jeffrey Douglas Miller purchased 1,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $35.99 per share, for a total transaction of $35,990.00. Following the purchase, the executive vice president now owns 95,730 shares of the company’s stock, valued at approximately $3,445,322.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Shares of Highwoods Properties stock opened at $34.38 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.04. Highwoods Properties Inc has a 12-month low of $25.10 and a 12-month high of $52.76. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 2.03 and a beta of 1.02. The firm’s 50 day simple moving average is $35.68 and its two-hundred day simple moving average is $43.87.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.91. Highwoods Properties had a net margin of 41.50% and a return on equity of 14.27%. The business had revenue of $192.80 million for the quarter, compared to analyst estimates of $192.55 million. During the same quarter in the prior year, the business posted $0.72 EPS. Highwoods Properties’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Highwoods Properties Inc will post 3.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, May 15th. This represents a $1.92 dividend on an annualized basis and a yield of 5.58%. Highwoods Properties’s payout ratio is 57.66%.

About Highwoods Properties

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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