Highwoods Properties, Inc. (HIW) Shares Bought by Renaissance Technologies LLC
Renaissance Technologies LLC grew its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 253,200 shares of the real estate investment trust’s stock after buying an additional 22,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.25% of Highwoods Properties worth $12,840,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. lifted its holdings in Highwoods Properties by 17.5% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 408 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Highwoods Properties by 13.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 369 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Highwoods Properties by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 124 shares during the period. Ray Gerald L & Associates Ltd. purchased a new stake in Highwoods Properties in the 2nd quarter worth approximately $203,000. Finally, Two Sigma Securities LLC purchased a new stake in Highwoods Properties in the 1st quarter worth approximately $210,000. Institutional investors and hedge funds own 97.93% of the company’s stock.
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Highwoods Properties, Inc. (NYSE HIW) opened at 52.88 on Wednesday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 42.17 and a beta of 0.89. The stock has a 50 day moving average price of $52.15 and a 200 day moving average price of $51.18. Highwoods Properties, Inc. has a 12 month low of $45.83 and a 12 month high of $53.34.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.59. The firm had revenue of $177.28 million during the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. Highwoods Properties’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. Analysts anticipate that Highwoods Properties, Inc. will post $1.26 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Bank of America Corporation increased their price objective on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. Janney Montgomery Scott assumed coverage on Highwoods Properties in a report on Friday, September 8th. They issued a “neutral” rating for the company. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Highwoods Properties currently has a consensus rating of “Hold” and an average target price of $55.50.
Highwoods Properties Company Profile
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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