Millennium Management LLC lifted its stake in Highwoods Properties Inc (NYSE:HIW) by 106.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,072,209 shares of the real estate investment trust’s stock after buying an additional 1,066,082 shares during the period. Millennium Management LLC owned approximately 2.01% of Highwoods Properties worth $105,496,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthstreet Investment Advisors LLC purchased a new position in shares of Highwoods Properties in the fourth quarter worth about $204,000. Advisor Group Inc. increased its holdings in shares of Highwoods Properties by 470.8% in the fourth quarter. Advisor Group Inc. now owns 4,452 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 3,672 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Highwoods Properties in the fourth quarter worth about $253,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Highwoods Properties by 74.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 5,574 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 2,375 shares during the period. Finally, Signition LP purchased a new position in shares of Highwoods Properties in the fourth quarter worth about $337,000. Hedge funds and other institutional investors own 96.56% of the company’s stock.
Shares of Highwoods Properties Inc (NYSE:HIW) opened at $43.65 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4,518.68, a PE ratio of 24.66, a P/E/G ratio of 4.33 and a beta of 0.80. Highwoods Properties Inc has a 12 month low of $41.83 and a 12 month high of $53.34.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.28). The business had revenue of $175.86 million during the quarter, compared to the consensus estimate of $177.14 million. Highwoods Properties had a return on equity of 8.46% and a net margin of 26.20%. analysts predict that Highwoods Properties Inc will post 3.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 4.24%. Highwoods Properties’s dividend payout ratio (DPR) is presently 104.52%.
Several research analysts have recently commented on the company. ValuEngine downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Highwoods Properties in a report on Tuesday. SunTrust Banks upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Friday, March 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and a consensus price target of $51.67.
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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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