Highwoods Properties, Inc. (NYSE:HIW) Position Held by First Manhattan Co.
First Manhattan Co. continued to hold its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,550 shares of the real estate investment trust’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Highwoods Properties were worth $1,244,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in HIW. BlackRock Inc. increased 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 in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of 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 in the last quarter. Credit Agricole S A increased its stake in shares of 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in shares of 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 in the last quarter. 98.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Highwoods Properties, Inc. (HIW) opened at 50.54 on Monday. The stock’s 50 day moving average price is $51.07 and its 200-day moving average price is $50.83. Highwoods Properties, Inc. has a 1-year low of $45.83 and a 1-year high of $55.13. The stock has a market capitalization of $5.22 billion, a P/E ratio of 40.30 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million during the quarter, compared to analysts’ expectations of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. Highwoods Properties’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that Highwoods Properties, Inc. will post $1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders 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 annualized dividend and a dividend yield of 3.48%. Highwoods Properties’s dividend payout ratio is currently 141.94%.
HIW has been the subject of a number of recent research reports. ValuEngine downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target on shares of Highwoods Properties in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $55.00.
In other news, COO Theodore J. Klinck sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the completion of the transaction, the chief operating officer now directly owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.
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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