QS Investors LLC increased its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 67,400 shares of the real estate investment trust’s stock after acquiring an additional 622 shares during the quarter. QS Investors LLC’s holdings in Highwoods Properties were worth $3,045,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Stifel Financial Corp purchased a new position in Highwoods Properties in the 2nd quarter worth $1,080,000. Ensign Peak Advisors Inc raised its position in Highwoods Properties by 12.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 94,741 shares of the real estate investment trust’s stock worth $4,279,000 after purchasing an additional 10,125 shares during the period. Geode Capital Management LLC raised its position in Highwoods Properties by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,568,068 shares of the real estate investment trust’s stock worth $70,829,000 after purchasing an additional 26,271 shares during the period. Vanguard Group Inc. raised its position in Highwoods Properties by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 15,017,223 shares of the real estate investment trust’s stock worth $678,328,000 after purchasing an additional 186,158 shares during the period. Finally, Vident Investment Advisory LLC raised its position in Highwoods Properties by 3.1% in the 2nd quarter. Vident Investment Advisory LLC now owns 55,985 shares of the real estate investment trust’s stock worth $2,529,000 after purchasing an additional 1,679 shares during the period. Institutional investors own 94.48% of the company’s stock.
HIW has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Highwoods Properties from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, September 30th. Zacks Investment Research raised shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, October 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $45.00.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 27th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.33). The company had revenue of $185.50 million for the quarter, compared to the consensus estimate of $184.55 million. Highwoods Properties had a net margin of 32.60% and a return on equity of 10.23%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. On average, research analysts forecast that Highwoods Properties, Inc. will post 3.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Monday, August 16th were paid a dividend of $0.50 per share. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, August 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.35%. Highwoods Properties’s payout ratio is presently 55.87%.
About Highwoods Properties
Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Charlotte, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.
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