Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Highwoods Properties Inc (NYSE:HIW) by 1.2% in the first quarter, HoldingsChannel reports. The firm owned 138,778 shares of the real estate investment trust’s stock after buying an additional 1,630 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Highwoods Properties were worth $6,492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HIW. Victory Capital Management Inc. increased its position in Highwoods Properties by 1,084.1% during the 1st quarter. Victory Capital Management Inc. now owns 3,048,220 shares of the real estate investment trust’s stock worth $142,596,000 after purchasing an additional 2,790,799 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Highwoods Properties by 3,769.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,536,094 shares during the period. Norges Bank acquired a new position in Highwoods Properties in the 4th quarter valued at approximately $43,858,000. FMR LLC increased its position in Highwoods Properties by 27.7% in the 4th quarter. FMR LLC now owns 4,409,992 shares of the real estate investment trust’s stock valued at $170,623,000 after acquiring an additional 955,882 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Highwoods Properties by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock valued at $197,937,000 after acquiring an additional 944,953 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Several equities analysts have issued reports on HIW shares. Capital One Financial upgraded shares of Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 22nd. Zacks Investment Research lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. Finally, TheStreet lowered shares of Highwoods Properties from a “b-” rating to a “c+” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Highwoods Properties currently has an average rating of “Hold” and an average price target of $51.60.

NYSE HIW traded up $0.03 on Thursday, hitting $44.36. 540 shares of the company were exchanged, compared to its average volume of 665,863. The firm has a market cap of $4.54 billion, a PE ratio of 12.92, a P/E/G ratio of 3.26 and a beta of 0.97. Highwoods Properties Inc has a 12 month low of $37.09 and a 12 month high of $52.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.00.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.12). The company had revenue of $172.36 million for the quarter, compared to the consensus estimate of $181.72 million. Highwoods Properties had a return on equity of 6.59% and a net margin of 20.42%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. On average, equities analysts predict that Highwoods Properties Inc will post 3.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 13th will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.28%. The ex-dividend date is Friday, May 10th. Highwoods Properties’s dividend payout ratio is presently 55.07%.

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Highwoods Properties Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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.

Read More: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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