State of New Jersey Common Pension Fund D Holds Position in Highwoods Properties, Inc. (HIW)
State of New Jersey Common Pension Fund D continued to hold its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the second quarter, according to its most recent filing with the SEC. The fund owned 40,000 shares of the real estate investment trust’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Highwoods Properties were worth $2,028,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Highwoods Properties by 4,514.0% in the first quarter. BlackRock Inc. now owns 11,832,053 shares of the real estate investment trust’s stock valued at $581,309,000 after buying an additional 11,575,615 shares during the period. Daiwa Securities Group Inc. raised its stake in Highwoods Properties by 35.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,272,658 shares of the real estate investment trust’s stock valued at $209,916,000 after buying an additional 1,125,203 shares during the last quarter. Credit Agricole S A raised its stake in Highwoods Properties by 1,672.4% in the first quarter. Credit Agricole S A now owns 1,175,091 shares of the real estate investment trust’s stock valued at $38,387,000 after buying an additional 1,108,790 shares during the last quarter. Vanguard Group Inc. raised its stake in Highwoods Properties by 4.9% in the first quarter. Vanguard Group Inc. now owns 16,087,977 shares of the real estate investment trust’s stock valued at $790,402,000 after buying an additional 749,245 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its stake in Highwoods Properties by 177.1% in the second quarter. Rothschild Asset Management Inc. now owns 971,022 shares of the real estate investment trust’s stock valued at $49,240,000 after buying an additional 620,589 shares during the last quarter. 99.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Highwoods Properties, Inc. (NYSE:HIW) opened at 51.36 on Friday. The company’s 50-day moving average price is $50.56 and its 200 day moving average price is $50.71. Highwoods Properties, Inc. has a 12-month low of $45.83 and a 12-month high of $54.25. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 40.96 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.59. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The firm had revenue of $177.28 million for the quarter, compared to the consensus estimate of $172.28 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Highwoods Properties, Inc. will post $1.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Monday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.76 dividend on an annualized basis and a yield of 3.43%. Highwoods Properties’s payout ratio is 141.94%.
HIW has been the topic of several recent research reports. ValuEngine lowered Highwoods Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Highwoods Properties presently has an average rating of “Hold” and an average target price of $55.00.
In related news, COO Theodore J. Klinck sold 10,000 shares of Highwoods Properties stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the transaction, the chief operating officer now owns 63,194 shares in the company, valued at $3,318,316.94. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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.
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