Sherry A. Kellett Sells 2,000 Shares of Highwoods Properties, Inc. (HIW) Stock
Highwoods Properties, Inc. (NYSE:HIW) Director Sherry A. Kellett sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total transaction of $101,280.00. Following the sale, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Highwoods Properties, Inc. (NYSE HIW) traded up $0.40 during mid-day trading on Friday, hitting $51.49. 388,803 shares of the stock traded hands, compared to its average volume of 548,926. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.20 and a current ratio of 1.20. Highwoods Properties, Inc. has a 52-week low of $48.42 and a 52-week high of $53.34. The firm has a market cap of $5,274.99, a price-to-earnings ratio of 15.11, a P/E/G ratio of 3.25 and a beta of 0.87.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.54. The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $177.15 million. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. analysts forecast that Highwoods Properties, Inc. will post 3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 3.42%. Highwoods Properties’s dividend payout ratio (DPR) is presently 119.73%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Highwoods Properties by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,889 shares of the real estate investment trust’s stock valued at $755,000 after purchasing an additional 38 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Highwoods Properties by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 124 shares during the last quarter. GAM Holding AG lifted its stake in Highwoods Properties by 2.4% during the second quarter. GAM Holding AG now owns 8,660 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 199 shares in the last quarter. World Asset Management Inc lifted its stake in Highwoods Properties by 3.2% during the second quarter. World Asset Management Inc now owns 6,433 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Highwoods Properties by 4.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,448 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.
HIW has been the subject of several analyst reports. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Janney Montgomery Scott initiated coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating for the company. Bank of America increased their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, SunTrust Banks set a $52.00 price objective on shares of Highwoods Properties and gave the stock a “hold” rating in a report on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target 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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