251,028 Shares in Highwoods Properties Inc (NYSE:HIW) Acquired by Cbre Clarion Securities LLC
Cbre Clarion Securities LLC acquired a new position in Highwoods Properties Inc (NYSE:HIW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 251,028 shares of the real estate investment trust’s stock, valued at approximately $8,891,000. Cbre Clarion Securities LLC owned 0.24% of Highwoods Properties at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in shares of Highwoods Properties in the fourth quarter worth approximately $29,000. DekaBank Deutsche Girozentrale acquired a new position in Highwoods Properties in the fourth quarter valued at approximately $106,000. Fifth Third Bancorp acquired a new position in Highwoods Properties in the first quarter valued at approximately $178,000. Chicago Equity Partners LLC acquired a new position in Highwoods Properties in the fourth quarter valued at approximately $247,000. Finally, Prudential PLC lifted its stake in Highwoods Properties by 16.3% in the first quarter. Prudential PLC now owns 7,205 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 1,011 shares during the period. 95.55% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on HIW shares. Robert W. Baird raised Highwoods Properties from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $53.00 to $40.00 in a research note on Monday, April 6th. Citigroup dropped their price target on Highwoods Properties from $51.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Bank of America raised Highwoods Properties from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $55.00 in a research note on Wednesday, March 4th. ValuEngine lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. Finally, SunTrust Banks upped their target price on Highwoods Properties from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.88.
Shares of Highwoods Properties stock traded up $1.94 during trading on Wednesday, hitting $41.99. 59,752 shares of the stock traded hands, compared to its average volume of 1,082,876. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.04. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 2.31 and a beta of 1.00. The firm’s fifty day moving average is $36.09 and its 200-day moving average is $43.31. Highwoods Properties Inc has a 52 week low of $25.10 and a 52 week high of $52.76.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.79 EPS for the quarter, beating the consensus estimate of $0.88 by $0.91. Highwoods Properties had a return on equity of 14.27% and a net margin of 41.50%. The firm had revenue of $192.80 million for the quarter, compared to analyst estimates of $192.55 million. During the same period in the prior year, the company earned $0.72 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, analysts forecast that Highwoods Properties Inc will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, May 18th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.92 annualized dividend and a yield of 4.57%. Highwoods Properties’s payout ratio is 57.66%.
Highwoods Properties Company 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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