Quantitative Investment Management LLC cut its position in shares of Highwoods Properties Inc. (NYSE:HIW) by 63.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,300 shares of the real estate investment trust’s stock after selling 19,800 shares during the period. Quantitative Investment Management LLC’s holdings in Highwoods Properties were worth $588,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in 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 worth $190,083,000 after buying an additional 529,593 shares in the last quarter. Bank of Montreal Can bought a new position in Highwoods Properties during the second quarter worth $13,562,000. LMR Partners LLP bought a new position in Highwoods Properties during the second quarter worth $3,368,000. Adams Diversified Equity Fund Inc. bought a new position in Highwoods Properties during the second quarter worth $454,000. Finally, Putnam FL Investment Management Co. raised its stake in shares of Highwoods Properties by 0.4% in the second quarter. Putnam FL Investment Management Co. now owns 351,819 shares of the real estate investment trust’s stock worth $18,576,000 after buying an additional 1,484 shares during the period.
Highwoods Properties Inc. (NYSE:HIW) opened at 47.89 on Friday. The stock has a 50 day moving average price of $48.61 and a 200 day moving average price of $50.77. Highwoods Properties Inc. has a 12 month low of $38.08 and a 12 month high of $56.23. The stock has a market capitalization of $4.80 billion, a PE ratio of 9.23 and a beta of 0.92.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $169.05 million. Highwoods Properties had a return on equity of 4.97% and a net margin of 78.81%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. On average, equities research analysts forecast that Highwoods Properties Inc. will post $3.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 14th will be paid a $0.425 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.70 annualized dividend and a dividend yield of 3.55%. Highwoods Properties’s payout ratio is currently 31.84%.
A number of analysts recently commented on the company. Stifel Nicolaus upgraded Highwoods Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $53.50 to $55.00 in a report on Thursday, October 27th. They noted that the move was a valuation call. Wood & Company reiterated a “buy” rating and set a $62.00 price target on shares of Highwoods Properties in a report on Thursday, October 27th. Zacks Investment Research lowered Highwoods Properties from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. BTIG Research assumed coverage on Highwoods Properties in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Finally, Oppenheimer Holdings Inc. lifted their price target on Highwoods Properties from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently 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 company’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 transaction, the senior vice president now directly owns 70,329 shares of the company’s stock, valued at approximately $3,693,679.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.
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.