Highwoods Properties Inc. (HIW) Shares Sold by Copper Rock Capital Partners LLC
Copper Rock Capital Partners LLC cut its position in shares of Highwoods Properties Inc. (NYSE:HIW) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 458,547 shares of the real estate investment trust’s stock after selling 4,197 shares during the period. Copper Rock Capital Partners LLC owned 0.47% of Highwoods Properties worth $23,890,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HIW. Brookfield Asset Management Inc. purchased a new position in Highwoods Properties during the second quarter worth about $112,728,000. FMR LLC raised its stake in 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 in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Highwoods Properties during the first quarter valued at about $38,821,000. Norges Bank bought a new stake in Highwoods Properties during the fourth quarter valued at about $34,708,000. Finally, Goldman Sachs Group Inc. raised its stake in Highwoods Properties by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 4,852,392 shares of the real estate investment trust’s stock valued at $231,993,000 after buying an additional 731,364 shares in the last quarter.
Highwoods Properties Inc. (NYSE:HIW) opened at 49.26 on Friday. The company’s 50-day moving average is $52.08 and its 200 day moving average is $50.44. The company has a market capitalization of $4.86 billion, a P/E ratio of 9.20 and a beta of 0.89. Highwoods Properties Inc. has a one year low of $38.08 and a one year high of $56.23.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Highwoods Properties had a net margin of 78.77% and a return on equity of 5.22%. The firm had revenue of $166.86 million for the quarter, compared to analyst estimates of $164.24 million. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Highwoods Properties Inc. will post $3.26 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Monday, August 15th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Thursday, August 11th. Highwoods Properties’s dividend payout ratio (DPR) is currently 31.89%.
HIW has been the topic of several research analyst reports. Wood & Company restated a “buy” rating and issued a $62.00 price target on shares of Highwoods Properties in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Wednesday. BTIG Research initiated coverage on shares of Highwoods Properties in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. SunTrust Banks Inc. raised their price target on shares of Highwoods Properties from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Finally, Citigroup Inc. raised their price target on shares of Highwoods Properties from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Highwoods Properties currently has a consensus rating of “Hold” and an average price target of $53.20.
In other news, SVP Jeffrey Douglas Miller sold 4,214 shares of the stock in a transaction dated Monday, September 26th. The shares were 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 $3,693,679.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.
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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