American Century Companies Inc. Acquires 1,446 Shares of Highwoods Properties Inc (HIW)
American Century Companies Inc. boosted its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 562,119 shares of the real estate investment trust’s stock after buying an additional 1,446 shares during the quarter. American Century Companies Inc. owned approximately 0.54% of Highwoods Properties worth $26,566,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HIW. BlackRock Inc. grew its position in Highwoods Properties by 10.0% during the second quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock valued at $723,688,000 after buying an additional 1,301,682 shares during the period. Bank of Montreal Can bought a new stake in Highwoods Properties during the second quarter valued at approximately $43,133,000. Centersquare Investment Management LLC grew its position in Highwoods Properties by 15.0% during the second quarter. Centersquare Investment Management LLC now owns 3,228,640 shares of the real estate investment trust’s stock valued at $163,788,000 after buying an additional 420,130 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in Highwoods Properties during the third quarter valued at approximately $17,593,000. Finally, Victory Capital Management Inc. bought a new stake in Highwoods Properties during the second quarter valued at approximately $12,840,000. Institutional investors own 92.06% of the company’s stock.
Several analysts recently issued reports on the stock. Wood & Company restated a “sell” rating on shares of Highwoods Properties in a research report on Friday, August 10th. SunTrust Banks set a $51.00 target price on shares of Highwoods Properties and gave the company a “buy” rating in a research report on Monday, July 30th. ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Finally, Zacks Investment Research lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. The business had revenue of $179.42 million during the quarter, compared to analyst estimates of $173.78 million. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Equities research analysts anticipate that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be given a $0.4625 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.21%. Highwoods Properties’s payout ratio is currently 56.40%.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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