November 10, 2019 at 2:18 pm

Green Street Investors LLC Increases Stake in Highwoods Properties Inc (NYSE:HIW)

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Green Street Investors LLC grew its position in Highwoods Properties Inc (NYSE:HIW) by 1.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 72,100 shares of the real estate investment trust’s stock after purchasing an additional 700 shares during the period. Highwoods Properties comprises about 1.9% of Green Street Investors LLC’s investment portfolio, making the stock its 20th largest holding. Green Street Investors LLC’s holdings in Highwoods Properties were worth $3,240,000 at the end of the most recent reporting period.

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Several other institutional investors and hedge funds have also recently made changes to their positions in HIW. First Trust Advisors LP raised its stake in shares of Highwoods Properties by 1.7% in the first quarter. First Trust Advisors LP now owns 64,564 shares of the real estate investment trust’s stock valued at $3,020,000 after acquiring an additional 1,105 shares during the period. WINTON GROUP Ltd raised its stake in shares of Highwoods Properties by 19.6% in the second quarter. WINTON GROUP Ltd now owns 66,960 shares of the real estate investment trust’s stock valued at $2,765,000 after acquiring an additional 10,953 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Highwoods Properties by 33.7% in the second quarter. Nisa Investment Advisors LLC now owns 75,334 shares of the real estate investment trust’s stock valued at $3,111,000 after acquiring an additional 18,999 shares during the period. 6 Meridian raised its stake in shares of Highwoods Properties by 2.3% in the second quarter. 6 Meridian now owns 11,483 shares of the real estate investment trust’s stock valued at $474,000 after acquiring an additional 260 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Highwoods Properties by 2.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 41,836 shares of the real estate investment trust’s stock valued at $1,728,000 after acquiring an additional 1,080 shares during the period. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE HIW traded up $0.35 during mid-day trading on Friday, reaching $46.47. The company had a trading volume of 539,553 shares, compared to its average volume of 714,241. The business’s 50-day moving average is $44.93 and its 200-day moving average is $44.12. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.08. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 5.33 and a beta of 0.79. Highwoods Properties Inc has a 52 week low of $37.09 and a 52 week high of $47.33.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.58). The company had revenue of $187.50 million during the quarter, compared to the consensus estimate of $185.95 million. Highwoods Properties had a return on equity of 5.93% and a net margin of 17.85%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, equities research analysts forecast that Highwoods Properties Inc will post 3.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 11th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, November 7th. Highwoods Properties’s payout ratio is presently 55.07%.

Several brokerages have recently weighed in on HIW. ValuEngine downgraded shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Robert W. Baird set a $49.00 price target on shares of Highwoods Properties and gave the stock a “hold” rating in a report on Wednesday, August 21st. Finally, SunTrust Banks upped their price target on shares of Highwoods Properties from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $50.00.

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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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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