UMB Bank N A MO Decreases Position in Highwoods Properties, Inc. (HIW)
UMB Bank N A MO reduced its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 104,002 shares of the real estate investment trust’s stock after selling 290 shares during the period. UMB Bank N A MO’s holdings in Highwoods Properties were worth $5,274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position 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 period. BlackRock Inc. raised its position in 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. FMR LLC raised its position in Highwoods Properties by 4.7% in the first quarter. FMR LLC now owns 5,002,866 shares of the real estate investment trust’s stock valued at $245,790,000 after buying an additional 223,031 shares during the period. Daiwa Securities Group Inc. raised its position in Highwoods Properties by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 4,503,381 shares of the real estate investment trust’s stock valued at $228,367,000 after buying an additional 230,723 shares during the period. Finally, State Street Corp raised its position in Highwoods Properties by 2.1% in the first quarter. State Street Corp now owns 4,327,993 shares of the real estate investment trust’s stock valued at $212,634,000 after buying an additional 88,057 shares during the period. 98.77% of the stock is currently owned by institutional investors.
Shares of Highwoods Properties, Inc. (NYSE HIW) opened at 49.98 on Friday. Highwoods Properties, Inc. has a 52 week low of $45.83 and a 52 week high of $54.25. The firm has a market capitalization of $5.16 billion, a P/E ratio of 39.86 and a beta of 0.88. The stock’s 50 day moving average price is $50.66 and its 200 day moving average price is $50.76.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million during the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. On average, analysts predict that Highwoods Properties, Inc. will post $1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, August 10th. Highwoods Properties’s dividend payout ratio is 141.94%.
HIW has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 price objective on shares of Highwoods Properties in a research report on Wednesday, April 19th. BidaskClub lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $55.00.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were 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 owns 63,194 shares of the company’s stock, valued at approximately $3,318,316.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by 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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