Jeffrey Douglas Miller Sells 4,214 Shares of Highwoods Properties Inc. (HIW) Stock
Highwoods Properties Inc. (NYSE:HIW) SVP Jeffrey Douglas Miller sold 4,214 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now 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 at this hyperlink.
Shares of Highwoods Properties Inc. (NYSE:HIW) opened at 52.10 on Friday. Highwoods Properties Inc. has a 12 month low of $38.08 and a 12 month high of $56.23. The stock has a market cap of $5.14 billion, a P/E ratio of 9.73 and a beta of 0.98. The stock has a 50 day moving average price of $52.53 and a 200 day moving average price of $50.31.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The firm had revenue of $166.86 million for the quarter, compared to the consensus estimate of $164.24 million. Highwoods Properties had a net margin of 78.77% and a return on equity of 5.22%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. Equities analysts anticipate that Highwoods Properties Inc. will post $3.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 15th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Thursday, August 11th. Highwoods Properties’s payout ratio is 31.89%.
Several research firms recently commented on HIW. Capital One Financial Corp. lowered Highwoods Properties from an “overweight” rating to an “equal weight” rating in a research note on Sunday, June 5th. Wood & Company reissued a “buy” rating and set a $62.00 price target on shares of Highwoods Properties in a research report on Thursday, August 4th. BTIG Research assumed coverage on Highwoods Properties in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Oppenheimer Holdings Inc. boosted their price target on Highwoods Properties from $55.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their price target on Highwoods Properties from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.20.
A number of large investors have recently bought and sold shares of the company. Security Capital Research & Management Inc. bought a new stake in Highwoods Properties during the second quarter worth approximately $110,000. Public Employees Retirement Association of Colorado bought a new stake in Highwoods Properties during the second quarter worth approximately $162,000. Envestnet Asset Management Inc. boosted its stake in Highwoods Properties by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,044 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 304 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Highwoods Properties by 10.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 400 shares during the last quarter. Finally, Prudential PLC bought a new stake in Highwoods Properties during the first quarter worth approximately $215,000.
About Highwoods Properties
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.
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