Highwoods Properties, Inc. (HIW) Shares Bought by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board increased its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 97,100 shares of the real estate investment trust’s stock after buying an additional 4,600 shares during the period. Canada Pension Plan Investment Board owned 0.09% of Highwoods Properties worth $5,058,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its holdings in shares of Highwoods Properties by 4.1% during the 2nd 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 period. Ray Gerald L & Associates Ltd. bought a new stake in shares of Highwoods Properties during the 2nd quarter worth about $203,000. Tudor Investment Corp ET AL bought a new stake in shares of Highwoods Properties during the 2nd quarter worth about $207,000. Denver Investment Advisors LLC bought a new stake in Highwoods Properties in the 2nd quarter valued at about $260,000. Finally, Parametrica Management Ltd bought a new stake in Highwoods Properties in the 3rd quarter valued at about $288,000. 97.18% of the stock is owned by institutional investors and hedge funds.
Shares of Highwoods Properties, Inc. (NYSE HIW) opened at $51.81 on Wednesday. Highwoods Properties, Inc. has a twelve month low of $46.87 and a twelve month high of $53.34. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5,337.97, a P/E ratio of 15.30, a PEG ratio of 3.34 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $177.15 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. research analysts forecast that Highwoods Properties, Inc. will post 3.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, November 13th. Highwoods Properties’s dividend payout ratio (DPR) is presently 119.73%.
A number of analysts have issued reports on HIW shares. Bank of America Corporation boosted their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Edward Jones downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. SunTrust Banks, Inc. set a $52.00 price objective on shares of Highwoods Properties and gave the company a “hold” rating in a report on Tuesday, October 24th. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Janney Montgomery Scott started coverage on shares of Highwoods Properties in a report on Friday, September 8th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Highwoods Properties currently has an average rating of “Hold” and an average target price of $54.80.
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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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