Highwoods Properties Inc (HIW) Holdings Increased by Crestline Management LP
Crestline Management LP raised its holdings in Highwoods Properties Inc (NYSE:HIW) by 194.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,791 shares of the real estate investment trust’s stock after buying an additional 45,392 shares during the quarter. Crestline Management LP owned approximately 0.07% of Highwoods Properties worth $2,662,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc grew its holdings in Highwoods Properties by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 15,331,831 shares of the real estate investment trust’s stock valued at $724,584,000 after buying an additional 104,562 shares during the period. BlackRock Inc. grew its holdings in Highwoods Properties by 0.9% in the 3rd quarter. BlackRock Inc. now owns 14,389,964 shares of the real estate investment trust’s stock valued at $680,068,000 after buying an additional 124,492 shares during the period. JPMorgan Chase & Co. grew its holdings in Highwoods Properties by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,188,266 shares of the real estate investment trust’s stock valued at $197,937,000 after buying an additional 944,953 shares during the period. Bank of New York Mellon Corp grew its holdings in Highwoods Properties by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,872,342 shares of the real estate investment trust’s stock valued at $88,487,000 after buying an additional 31,593 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Highwoods Properties by 35.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,853,400 shares of the real estate investment trust’s stock valued at $87,592,000 after buying an additional 490,000 shares during the period. Institutional investors own 93.16% of the company’s stock.
A number of brokerages have recently issued reports on HIW. Zacks Investment Research cut Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Janney Montgomery Scott upgraded Highwoods Properties from a “neutral” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.00.
Shares of NYSE:HIW opened at $45.66 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.20 and a quick ratio of 1.20. Highwoods Properties Inc has a 1 year low of $37.09 and a 1 year high of $52.00. The stock has a market cap of $4.73 billion, a PE ratio of 13.23, a PEG ratio of 2.99 and a beta of 1.01.
Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.86. Highwoods Properties had a return on equity of 7.68% and a net margin of 23.69%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $176.79 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 952.5% on a year-over-year basis. As a group, sell-side analysts forecast that Highwoods Properties Inc will post 3.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 19th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Friday, February 15th. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.46. Highwoods Properties’s dividend payout ratio is currently 55.07%.
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Highwoods Properties Profile
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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