Bokf Na Grows Stake in Highwoods Properties, Inc. (NYSE:HIW)

Bokf Na grew its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 86.5% during the first quarter, HoldingsChannel reports. The fund owned 61,432 shares of the real estate investment trust’s stock after purchasing an additional 28,493 shares during the period. Bokf Na’s holdings in Highwoods Properties were worth $1,540,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. increased its holdings in shares of Highwoods Properties by 42.0% in the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock valued at $105,952,000 after acquiring an additional 1,364,176 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Highwoods Properties by 0.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,328,382 shares of the real estate investment trust’s stock valued at $53,459,000 after acquiring an additional 9,397 shares during the last quarter. PGGM Investments purchased a new position in shares of Highwoods Properties in the 4th quarter valued at about $46,833,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Highwoods Properties by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,898,083 shares of the real estate investment trust’s stock valued at $43,580,000 after acquiring an additional 124,577 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Highwoods Properties in the 4th quarter valued at about $24,306,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

Highwoods Properties stock traded up $1.48 during mid-day trading on Friday, reaching $30.62. 1,600,318 shares of the company were exchanged, compared to its average volume of 861,093. Highwoods Properties, Inc. has a twelve month low of $17.06 and a twelve month high of $30.71. The firm’s 50-day simple moving average is $26.48 and its two-hundred day simple moving average is $25.18. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.29. The firm has a market cap of $3.25 billion, a PE ratio of 25.10 and a beta of 1.27.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The company had revenue of $204.74 million for the quarter, compared to analyst estimates of $205.06 million. During the same period in the previous year, the business posted $0.94 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Highwoods Properties, Inc. will post 3.57 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.53%. Highwoods Properties’s payout ratio is 163.93%.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upped their target price on Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.75.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.