Nordea Investment Management AB reduced its stake in shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 150,592 shares of the real estate investment trust’s stock after selling 1,043 shares during the period. Nordea Investment Management AB’s holdings in Highwoods Properties were worth $6,759,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. AE Wealth Management LLC purchased a new stake in shares of Highwoods Properties during the fourth quarter valued at $793,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Highwoods Properties by 10.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,521 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 1,000 shares in the last quarter. M&G Investment Management Ltd. raised its holdings in shares of Highwoods Properties by 32.5% in the fourth quarter. M&G Investment Management Ltd. now owns 166,444 shares of the real estate investment trust’s stock valued at $7,490,000 after acquiring an additional 40,853 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Highwoods Properties by 87.1% in the fourth quarter. State of Alaska Department of Revenue now owns 140,433 shares of the real estate investment trust’s stock valued at $6,259,000 after acquiring an additional 65,372 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Highwoods Properties by 18.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,670 shares of the real estate investment trust’s stock valued at $431,000 after acquiring an additional 1,510 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.
Shares of HIW stock opened at $44.54 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.98 and a beta of 1.08. The stock has a 50 day simple moving average of $43.75 and a 200-day simple moving average of $44.66. Highwoods Properties, Inc. has a 1-year low of $40.85 and a 1-year high of $48.98.
Highwoods Properties (NYSE:HIW – Get Rating) last announced its earnings results on Monday, February 7th. The real estate investment trust reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.47. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $199.79 million. Highwoods Properties had a return on equity of 12.73% and a net margin of 40.63%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. Analysts anticipate that Highwoods Properties, Inc. will post 3.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.49%. The ex-dividend date was Friday, February 18th. Highwoods Properties’s dividend payout ratio is currently 67.34%.
A number of brokerages have commented on HIW. Morgan Stanley reduced their target price on shares of Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, February 10th. Robert W. Baird upgraded Highwoods Properties from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $53.00 in a research report on Wednesday, January 12th. Zacks Investment Research lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, December 10th. Finally, Jefferies Financial Group upgraded Highwoods Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $44.00 to $54.00 in a research report on Monday, January 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $49.40.
Highwoods Properties Profile (Get Rating)
Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Charlotte, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.
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