Employees Retirement System of Texas Has $5,956,000 Stake in Highwoods Properties, Inc. (HIW)
Employees Retirement System of Texas maintained its position in Highwoods Properties, Inc. (NYSE:HIW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,460 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Employees Retirement System of Texas owned approximately 0.11% of Highwoods Properties worth $5,956,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIW. Russell Investments Group Ltd. raised its position in Highwoods Properties by 42.6% in the 1st quarter. Russell Investments Group Ltd. now owns 67,797 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 20,265 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Highwoods Properties by 21.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 204,080 shares of the real estate investment trust’s stock valued at $10,026,000 after buying an additional 35,695 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Highwoods Properties in the 1st quarter valued at $1,229,000. Envestnet Asset Management Inc. raised its position in Highwoods Properties by 13.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 369 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Highwoods Properties by 16.5% in the 1st quarter. Stifel Financial Corp now owns 17,051 shares of the real estate investment trust’s stock valued at $838,000 after buying an additional 2,410 shares during the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on HIW. BidaskClub lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Bank of America Corporation increased their price target on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Janney Montgomery Scott began coverage on Highwoods Properties in a research report on Friday, September 8th. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.50.
Shares of Highwoods Properties, Inc. (NYSE:HIW) opened at 52.98 on Thursday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 42.25 and a beta of 0.89. Highwoods Properties, Inc. has a 52-week low of $45.83 and a 52-week high of $53.26. The company has a 50-day moving average price of $51.82 and a 200-day moving average price of $50.99.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $172.28 million. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Highwoods Properties, Inc. will post $1.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 14th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, August 10th. Highwoods Properties’s dividend payout ratio is currently 141.94%.
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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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