Mizuho Trust & Banking Co. Ltd. boosted its stake in Highwoods Properties Inc. (NYSE:HIW) by 29.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,389 shares of the real estate investment trust’s stock after buying an additional 5,589 shares during the period. Mizuho Trust & Banking Co. Ltd.’s holdings in Highwoods Properties were worth $1,271,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in HIW. Brookfield Asset Management Inc. purchased a new stake in shares of Highwoods Properties during the second quarter valued at about $112,728,000. FMR LLC increased its stake in shares of Highwoods Properties by 38.0% in the second quarter. FMR LLC now owns 3,287,827 shares of the real estate investment trust’s stock valued at $173,596,000 after buying an additional 904,794 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Highwoods Properties by 34.5% in the second quarter. JPMorgan Chase & Co. now owns 2,766,569 shares of the real estate investment trust’s stock valued at $146,074,000 after buying an additional 709,168 shares during the last quarter. Daiwa Securities Group Inc. increased its stake 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. Finally, Cohen & Steers Inc. increased its stake in shares of Highwoods Properties by 17.3% in the second quarter. Cohen & Steers Inc. now owns 3,596,451 shares of the real estate investment trust’s stock valued at $189,893,000 after buying an additional 529,393 shares during the last quarter.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded up 0.61% during trading on Friday, reaching $47.89. 472,850 shares of the company traded hands. Highwoods Properties Inc. has a 52 week low of $38.08 and a 52 week high of $56.23. The firm’s 50 day moving average price is $48.61 and its 200-day moving average price is $50.77. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 9.23 and a beta of 0.92.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Highwoods Properties had a net margin of 78.81% and a return on equity of 4.97%. The firm earned $166.30 million during the quarter, compared to analysts’ expectations of $169.05 million. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Highwoods Properties Inc. will post $3.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Monday, November 14th will be issued a dividend of $0.425 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.55%. Highwoods Properties’s dividend payout ratio (DPR) is presently 31.84%.
Several analysts have issued reports on HIW shares. Zacks Investment Research downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Stifel Nicolaus raised shares of Highwoods Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $53.50 to $55.00 in a research report on Thursday, October 27th. They noted that the move was a valuation call. Oppenheimer Holdings Inc. raised their target price on shares of Highwoods Properties from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Wood & Company reaffirmed a “buy” rating and set a $62.00 target price on shares of Highwoods Properties in a research report on Thursday, October 27th. Finally, BTIG Research started coverage on shares of Highwoods Properties in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Highwoods Properties currently has an average rating of “Hold” and an average target price of $54.11.
In related news, SVP Jeffrey Douglas Miller sold 4,214 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.52, for a total value of $221,319.28. Following the sale, the senior vice president now directly owns 70,329 shares of the company’s stock, valued at $3,693,679.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.