Ameriprise Financial Inc. lessened its stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,781 shares of the real estate investment trust's stock after selling 14,116 shares during the quarter. Ameriprise Financial Inc. owned 0.77% of Highwoods Properties worth $25,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of HIW. Barclays PLC raised its position in shares of Highwoods Properties by 537.7% in the 3rd quarter. Barclays PLC now owns 485,368 shares of the real estate investment trust's stock worth $16,264,000 after purchasing an additional 409,258 shares during the last quarter. Salem Investment Counselors Inc. increased its position in shares of Highwoods Properties by 36.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,766 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 2,610 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Highwoods Properties by 5.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,906 shares of the real estate investment trust's stock valued at $2,168,000 after purchasing an additional 3,362 shares during the last quarter. Perpetual Ltd bought a new position in shares of Highwoods Properties during the 4th quarter valued at approximately $822,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Highwoods Properties by 14.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,025 shares of the real estate investment trust's stock valued at $490,000 after acquiring an additional 1,970 shares during the period. Hedge funds and other institutional investors own 96.31% of the company's stock.
Wall Street Analyst Weigh In
HIW has been the subject of several recent analyst reports. StockNews.com upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Truist Financial dropped their price target on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Jefferies Financial Group initiated coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $32.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Highwoods Properties presently has an average rating of "Hold" and a consensus price target of $32.50.
Get Our Latest Report on HIW
Highwoods Properties Price Performance
Shares of HIW stock traded up $0.40 on Friday, reaching $30.89. The company's stock had a trading volume of 683,470 shares, compared to its average volume of 916,107. The stock's fifty day simple moving average is $28.40 and its 200-day simple moving average is $29.71. Highwoods Properties, Inc. has a 1 year low of $24.07 and a 1 year high of $36.78. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 32.52 and a beta of 1.20.
Highwoods Properties (NYSE:HIW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. The firm had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. During the same period last year, the firm posted $0.89 earnings per share. Highwoods Properties's revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.
Highwoods Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 6.47%. Highwoods Properties's payout ratio is presently 124.22%.
Highwoods Properties Company Profile
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Free Report)
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.
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