Rothschild Asset Management Inc. increased its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 177.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 971,022 shares of the real estate investment trust’s stock after buying an additional 620,589 shares during the period. Rothschild Asset Management Inc. owned approximately 0.95% of Highwoods Properties worth $49,240,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bowling Portfolio Management LLC increased its stake in Highwoods Properties by 22.5% in the second quarter. Bowling Portfolio Management LLC now owns 17,620 shares of the real estate investment trust’s stock valued at $894,000 after buying an additional 3,240 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Highwoods Properties by 4.1% in the second 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. ING Groep NV purchased a new stake in shares of Highwoods Properties during the second quarter worth about $629,000. Russell Investments Group Ltd. increased its stake in shares of Highwoods Properties by 27.3% in the second quarter. Russell Investments Group Ltd. now owns 86,333 shares of the real estate investment trust’s stock worth $4,379,000 after buying an additional 18,536 shares during the period. Finally, Forsta AP Fonden increased its stake in shares of Highwoods Properties by 173.5% in the second quarter. Forsta AP Fonden now owns 36,100 shares of the real estate investment trust’s stock worth $1,831,000 after buying an additional 22,900 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.
Highwoods Properties, Inc. (HIW) traded down 0.54% during mid-day trading on Friday, reaching $49.98. 379,540 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $50.66 and its 200-day moving average price is $50.76. The company has a market capitalization of $5.16 billion, a P/E ratio of 39.86 and a beta of 0.88. Highwoods Properties, Inc. has a 52 week low of $45.83 and a 52 week high of $54.28.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.59. The company had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts expect that Highwoods Properties, Inc. will post $1.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, August 10th. Highwoods Properties’s dividend payout ratio is currently 141.94%.
A number of equities research analysts have recently commented on HIW shares. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 target price on shares of Highwoods Properties in a research report on Wednesday, April 19th. ValuEngine upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Finally, BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Highwoods Properties has an average rating of “Hold” and an average price target 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 stock was sold at an average price of $52.51, for a total value of $525,100.00. Following the transaction, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently 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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