8,600 Shares in Highwoods Properties Inc. (HIW) Acquired by Adams Diversified Equity Fund Inc.
Adams Diversified Equity Fund Inc. bought a new stake in Highwoods Properties Inc. (NYSE:HIW) during the second quarter, Holdings Channel reports. The institutional investor bought 8,600 shares of the real estate investment trust’s stock, valued at approximately $454,000.
Several other large investors also recently modified their holdings of HIW. NN Investment Partners Holdings N.V. acquired a new position in Highwoods Properties during the first quarter valued at approximately $38,821,000. Norges Bank acquired a new position in Highwoods Properties during the fourth quarter valued at approximately $34,708,000. Goldman Sachs Group Inc. boosted its position in Highwoods Properties by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 4,852,392 shares of the real estate investment trust’s stock valued at $231,993,000 after buying an additional 731,364 shares during the period. Renaissance Technologies LLC boosted its position in Highwoods Properties by 64.0% in the first quarter. Renaissance Technologies LLC now owns 408,200 shares of the real estate investment trust’s stock valued at $19,516,000 after buying an additional 159,300 shares during the period. Finally, State Street Corp boosted its position in Highwoods Properties by 2.6% in the first quarter. State Street Corp now owns 4,521,432 shares of the real estate investment trust’s stock valued at $216,171,000 after buying an additional 113,296 shares during the period.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded down 0.28% during mid-day trading on Friday, hitting $50.74. The stock had a trading volume of 803,126 shares. Highwoods Properties Inc. has a one year low of $37.84 and a one year high of $56.23. The firm has a 50 day moving average of $53.61 and a 200 day moving average of $49.84. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 9.48 and a beta of 0.98.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $166.86 million for the quarter, compared to the consensus estimate of $164.24 million. Highwoods Properties had a return on equity of 5.22% and a net margin of 78.77%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, analysts forecast that Highwoods Properties Inc. will post $3.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 15th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, August 11th. Highwoods Properties’s dividend payout ratio is currently 31.89%.
Several research firms recently commented on HIW. Capital One Financial Corp. cut Highwoods Properties from an “overweight” rating to an “equal weight” rating in a research note on Sunday, June 5th. Wood & Company reiterated a “buy” rating and issued a $62.00 price target on shares of Highwoods Properties in a research note on Thursday, August 4th. BTIG Research began coverage on Highwoods Properties in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Oppenheimer Holdings Inc. boosted their price target on Highwoods Properties from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their price target on Highwoods Properties from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $52.20.
In other news, SVP Jeffrey Douglas Miller sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $51.46, for a total value of $617,520.00. Following the sale, the senior vice president now directly owns 68,115 shares of the company’s stock, valued at $3,505,197.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward J. Fritsch sold 85,822 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $52.27, for a total value of $4,485,915.94. Following the completion of the sale, the chief executive officer now directly owns 471,533 shares in the company, valued at $24,647,029.91. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.
Highwoods Properties Company Profile
Highwoods Properties, Inc is a real estate investment trust. The Company provides leasing, management, development, construction and other customer-related services for its properties and for third-parties. The Company is engaged in the business of operation, acquisition and development of real estate properties.
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