ARP Americas LP acquired a new stake in Highwoods Properties Inc (NYSE:HIW) during the second quarter, HoldingsChannel reports. The firm acquired 10,300 shares of the real estate investment trust’s stock, valued at approximately $384,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Advisors boosted its position in shares of Highwoods Properties by 61.2% in the 2nd quarter. Heritage Wealth Advisors now owns 1,639 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 622 shares during the period. Van ECK Associates Corp lifted its position in Highwoods Properties by 108.8% during the 1st quarter. Van ECK Associates Corp now owns 1,255 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 654 shares during the period. Exane Derivatives lifted its position in Highwoods Properties by 14,695.5% during the 2nd quarter. Exane Derivatives now owns 3,255 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 3,233 shares during the period. Fifth Third Bancorp acquired a new stake in Highwoods Properties during the 1st quarter worth approximately $178,000. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Highwoods Properties by 6.2% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,243 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 362 shares during the period. 95.60% of the stock is owned by hedge funds and other institutional investors.
HIW has been the subject of several recent analyst reports. DA Davidson reissued a “buy” rating on shares of Highwoods Properties in a report on Wednesday. Mizuho raised Highwoods Properties from a “neutral” rating to a “buy” rating and reduced their price target for the company from $51.00 to $45.00 in a report on Tuesday, April 28th. Morgan Stanley raised Highwoods Properties from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $44.00 in a report on Wednesday, June 24th. ValuEngine downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, April 21st. Finally, Robert W. Baird raised Highwoods Properties from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $53.00 to $40.00 in a research note on Monday, April 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Highwoods Properties presently has a consensus rating of “Buy” and an average target price of $44.38.
Highwoods Properties stock traded down $0.09 during mid-day trading on Friday, hitting $38.34. 931,790 shares of the company were exchanged, compared to its average volume of 664,990. The company has a market capitalization of $3.98 billion, a P/E ratio of 12.78, a PEG ratio of 2.24 and a beta of 0.99. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.48. Highwoods Properties Inc has a 12-month low of $25.10 and a 12-month high of $52.76. The business’s 50 day simple moving average is $37.63 and its two-hundred day simple moving average is $40.61.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.53). The business had revenue of $183.15 million during the quarter, compared to analysts’ expectations of $187.69 million. Highwoods Properties had a net margin of 41.15% and a return on equity of 13.93%. Highwoods Properties’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. Equities research analysts predict that Highwoods Properties Inc will post 3.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Friday, August 14th. Highwoods Properties’s dividend payout ratio is currently 57.66%.
Highwoods Properties Company 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.
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