Highwoods Properties Inc (NYSE:HIW) was in 5 hedge funds’ portfolio at the end of the fourth quarter of 2012. HIW investors should be aware of a decrease in support from the world’s most elite money managers of late. There were 6 hedge funds in our database with HIW positions at the end of the previous quarter.
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Consequently, we’re going to take a gander at the recent action regarding Highwoods Properties Inc (NYSE:HIW).
What have hedge funds been doing with Highwoods Properties Inc (NYSE:HIW)?
At the end of the fourth quarter, a total of 5 of the hedge funds we track were long in this stock, a change of -17% from the third quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their stakes considerably.
Of the funds we track, Renaissance Technologies, managed by Jim Simons, holds the largest position in Highwoods Properties Inc (NYSE:HIW). Renaissance Technologies has a $7.4 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Ascend Capital, managed by Malcolm Fairbairn, which held a $6.7 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Some other peers with similar optimism include Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management and Ken Griffin’s Citadel Investment Group.
Because Highwoods Properties Inc (NYSE:HIW) has faced a declination in interest from the aggregate hedge fund industry, we can see that there lies a certain “tier” of funds that slashed their full holdings at the end of the year. It’s worth mentioning that D. E. Shaw’s D E Shaw dumped the largest stake of the 450+ funds we track, comprising about $2 million in stock., and Mike Vranos of Ellington was right behind this move, as the fund dropped about $0.2 million worth. These bearish behaviors are interesting, as total hedge fund interest was cut by 1 funds at the end of the year.
What do corporate executives and insiders think about Highwoods Properties Inc (NYSE:HIW)?
Insider purchases made by high-level executives is at its handiest when the company in question has experienced transactions within the past half-year. Over the latest six-month time period, Highwoods Properties Inc (NYSE:HIW) has seen 1 unique insiders buying, and 7 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Highwoods Properties Inc (NYSE:HIW). These stocks are Mack Cali Realty Corp (NYSE:CLI), Kilroy Realty Corp (NYSE:KRC), Brookfield Canada Office Properties (NYSE:BOXC), CommonWealth REIT (NYSE:CWH), and Piedmont Office Realty Trust, Inc. (NYSE:PDM). This group of stocks are in the reit – office industry and their market caps match HIW’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Mack Cali Realty Corp (NYSE:CLI) | 10 | 0 | 0 |
| Kilroy Realty Corp (NYSE:KRC) | 9 | 0 | 2 |
| Brookfield Canada Office Properties (NYSE:BOXC) | 2 | 0 | 0 |
| CommonWealth REIT (NYSE:CWH) | 12 | 0 | 0 |
| Piedmont Office Realty Trust, Inc. (NYSE:PDM) | 6 | 1 | 0 |
With the results exhibited by the aforementioned time-tested strategies, retail investors must always keep an eye on hedge fund and insider trading sentiment, and Highwoods Properties Inc (NYSE:HIW) is an important part of this process.
