Highwoods Properties, Inc. (HIW) Stake Boosted by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC grew its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,898,603 shares of the real estate investment trust’s stock after purchasing an additional 68,509 shares during the period. Lord Abbett & CO. LLC owned approximately 1.84% of Highwoods Properties worth $96,278,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of HIW. Independent Portfolio Consultants Inc. increased its stake in shares of 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 valued at $139,000 after purchasing an additional 408 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of 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 valued at $151,000 after purchasing an additional 369 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of 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 valued at $160,000 after purchasing an additional 124 shares during the last quarter. Ray Gerald L & Associates Ltd. bought a new position in shares of Highwoods Properties in the 2nd quarter valued at $203,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Highwoods Properties in the 2nd quarter valued at $207,000. Institutional investors own 97.93% of the company’s stock.
Several equities analysts have recently issued reports on HIW shares. BidaskClub lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Bank of America Corporation lifted their price target on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Finally, Janney Montgomery Scott started coverage on Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Highwoods Properties has a consensus rating of “Hold” and an average price target of $55.50.
Highwoods Properties, Inc. (HIW) traded up 0.19% during midday trading on Monday, hitting $52.65. The company had a trading volume of 182,118 shares. The firm has a market capitalization of $5.44 billion, a P/E ratio of 41.99 and a beta of 0.89. Highwoods Properties, Inc. has a 52 week low of $45.83 and a 52 week high of $53.34. The firm’s 50 day moving average is $52.15 and its 200-day moving average is $51.18.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million during the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities research analysts expect that Highwoods Properties, Inc. will post $1.26 EPS for the current fiscal year.
Highwoods Properties 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.
Receive News & Ratings for Highwoods Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.