Teacher Retirement System of Texas Has $5.31 Million Stake in Highwoods Properties, Inc. (HIW)
Teacher Retirement System of Texas raised its position in Highwoods Properties, Inc. (NYSE:HIW) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,620 shares of the real estate investment trust’s stock after buying an additional 1,184 shares during the period. Teacher Retirement System of Texas’ holdings in Highwoods Properties were worth $5,305,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of Highwoods Properties by 1.1% in the first quarter. Public Employees Retirement System of Ohio now owns 160,183 shares of the real estate investment trust’s stock worth $7,870,000 after buying an additional 1,770 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Highwoods Properties during the first quarter worth about $255,000. Credit Suisse AG raised its position in shares of Highwoods Properties by 9.3% in the first quarter. Credit Suisse AG now owns 446,755 shares of the real estate investment trust’s stock worth $21,950,000 after buying an additional 37,953 shares during the period. Geode Capital Management LLC raised its position in shares of Highwoods Properties by 12.9% in the first quarter. Geode Capital Management LLC now owns 950,512 shares of the real estate investment trust’s stock worth $46,698,000 after buying an additional 108,628 shares during the period. Finally, Rafferty Asset Management LLC raised its position in shares of Highwoods Properties by 260.5% in the first quarter. Rafferty Asset Management LLC now owns 17,367 shares of the real estate investment trust’s stock worth $853,000 after buying an additional 12,550 shares during the period. Institutional investors own 99.45% of the company’s stock.
Shares of Highwoods Properties, Inc. (HIW) opened at 50.88 on Wednesday. The company has a market cap of $5.25 billion, a P/E ratio of 40.57 and a beta of 0.88. Highwoods Properties, Inc. has a 1-year low of $45.83 and a 1-year high of $54.25. The stock has a 50 day moving average price of $50.58 and a 200-day moving average price of $50.70.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million for 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%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. Analysts predict that Highwoods Properties, Inc. will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be given a $0.44 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.76 dividend on an annualized basis and a yield of 3.46%. Highwoods Properties’s payout ratio is 141.94%.
HIW has been the subject of a number of analyst reports. ValuEngine lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target on shares of Highwoods Properties in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $55.00.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total value of $525,100.00. Following the transaction, the chief operating officer now directly owns 63,194 shares in the company, valued at approximately $3,318,316.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.
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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