Highwoods Properties Inc (HIW) Position Cut by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC lowered its holdings in shares of Highwoods Properties Inc (NYSE:HIW) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 759,640 shares of the real estate investment trust’s stock after selling 29,249 shares during the quarter. Lord Abbett & CO. LLC owned 0.73% of Highwoods Properties worth $29,390,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Employees Retirement System of Texas boosted its holdings in Highwoods Properties by 0.3% during the 4th quarter. Employees Retirement System of Texas now owns 139,460 shares of the real estate investment trust’s stock valued at $5,396,000 after acquiring an additional 350 shares during the period. Utah Retirement Systems boosted its holdings in Highwoods Properties by 1.5% during the 4th quarter. Utah Retirement Systems now owns 26,319 shares of the real estate investment trust’s stock valued at $1,018,000 after acquiring an additional 400 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Highwoods Properties by 3.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 16,100 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 500 shares during the period. American International Group Inc. boosted its holdings in Highwoods Properties by 0.3% during the 4th quarter. American International Group Inc. now owns 210,908 shares of the real estate investment trust’s stock valued at $8,160,000 after acquiring an additional 628 shares during the period. Finally, Capital Investment Advisory Services LLC purchased a new position in Highwoods Properties during the 4th quarter valued at $27,000. Institutional investors own 93.16% of the company’s stock.
A number of research firms recently issued reports on HIW. Capital One Financial raised Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 22nd. ValuEngine lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Zacks Investment Research lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Finally, Janney Montgomery Scott raised Highwoods Properties from a “neutral” rating to a “buy” rating in a research report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.00.
Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.86. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $176.79 million. Highwoods Properties had a return on equity of 7.68% and a net margin of 23.69%. Highwoods Properties’s revenue was up 952.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Research analysts expect that Highwoods Properties Inc will post 3.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 19th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, February 15th. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a yield of 4.16%. Highwoods Properties’s payout ratio is 55.07%.
In other news, Director Carlos E. Evans bought 10,000 shares of the firm’s stock in a transaction on Thursday, December 27th. The stock was acquired at an average cost of $38.31 per share, with a total value of $383,100.00. Following the transaction, the director now directly owns 21,247 shares in the company, valued at approximately $813,972.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
About Highwoods Properties
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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