Presima Inc. lessened its stake in Highwoods Properties Inc (NYSE:HIW) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,800 shares of the real estate investment trust’s stock after selling 8,100 shares during the period. Highwoods Properties comprises approximately 0.5% of Presima Inc.’s investment portfolio, making the stock its 19th largest holding. Presima Inc. owned 0.06% of Highwoods Properties worth $2,777,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in shares of Highwoods Properties by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 29,972 shares of the real estate investment trust’s stock worth $1,238,000 after buying an additional 258 shares during the period. 6 Meridian raised its stake in shares of Highwoods Properties by 2.3% during the 2nd quarter. 6 Meridian now owns 11,483 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 260 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Highwoods Properties by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,150 shares of the real estate investment trust’s stock valued at $791,000 after purchasing an additional 280 shares during the last quarter. Hardman Johnston Global Advisors LLC raised its stake in Highwoods Properties by 1.1% in the 2nd quarter. Hardman Johnston Global Advisors LLC now owns 26,600 shares of the real estate investment trust’s stock valued at $1,099,000 after purchasing an additional 300 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Highwoods Properties by 2.2% in the 2nd quarter. Profund Advisors LLC now owns 15,302 shares of the real estate investment trust’s stock valued at $632,000 after purchasing an additional 336 shares during the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.
Several research analysts recently commented on HIW shares. Robert W. Baird set a $49.00 price objective on Highwoods Properties and gave the company a “hold” rating in a research note on Wednesday, August 21st. SunTrust Banks increased their price objective on Highwoods Properties from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, ValuEngine raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.00.
Shares of HIW remained flat at $$45.65 during midday trading on Monday. The company’s stock had a trading volume of 580,193 shares, compared to its average volume of 713,513. Highwoods Properties Inc has a twelve month low of $37.09 and a twelve month high of $47.32. The company has a market capitalization of $4.73 billion, a PE ratio of 13.23, a PEG ratio of 3.46 and a beta of 0.80. The business has a fifty day simple moving average of $44.29 and a 200 day simple moving average of $44.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.09 and a current ratio of 1.40.
Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.58). Highwoods Properties had a return on equity of 5.93% and a net margin of 17.85%. The company had revenue of $187.50 million during the quarter, compared to analyst estimates of $185.95 million. During the same period last year, the business earned $0.86 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Highwoods Properties Inc will post 3.34 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 11th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, November 7th. Highwoods Properties’s dividend payout ratio (DPR) is presently 55.07%.
Highwoods Properties Profile
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.
Further Reading: Momentum Indicator: Relative Strength Index
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties and related companies with MarketBeat.com's FREE daily email newsletter.