Rhumbline Advisers Sells 4,351 Shares of Highwoods Properties, Inc. (HIW)
Rhumbline Advisers decreased its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 220,097 shares of the real estate investment trust’s stock after selling 4,351 shares during the period. Rhumbline Advisers owned approximately 0.21% of Highwoods Properties worth $11,161,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in HIW. Anchor Capital Advisors LLC increased its stake in Highwoods Properties by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 7,240 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 100 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Highwoods Properties by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 124 shares during the last quarter. World Asset Management Inc boosted its position in Highwoods Properties by 3.2% in the second quarter. World Asset Management Inc now owns 6,433 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its position in Highwoods Properties by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,417 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 203 shares during the period. Finally, Capstone Asset Management Co. boosted its position in Highwoods Properties by 3.2% in the second quarter. Capstone Asset Management Co. now owns 7,818 shares of the real estate investment trust’s stock worth $396,000 after buying an additional 240 shares during the period. 99.45% of the stock is currently owned by institutional investors.
Highwoods Properties, Inc. (NYSE HIW) opened at 51.24 on Tuesday. Highwoods Properties, Inc. has a 52-week low of $45.83 and a 52-week high of $54.25. The company has a market cap of $5.29 billion, a PE ratio of 40.86 and a beta of 0.88. The firm’s 50-day moving average is $50.59 and its 200-day moving average is $50.72.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping the 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 business had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Highwoods Properties, Inc. will post $1.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 14th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.76 annualized dividend and a dividend yield of 3.43%. Highwoods Properties’s dividend payout ratio is presently 141.94%.
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A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Highwoods Properties currently has a consensus rating of “Hold” and an average price target of $55.00.
In other news, COO Theodore J. Klinck sold 10,000 shares of Highwoods Properties stock in a transaction 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 approximately $3,318,316.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.
Highwoods Properties Company Profile
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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