Bank of America Corp DE Sells 229,494 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Bank of America Corp DE cut its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 609,064 shares of the real estate investment trust's stock after selling 229,494 shares during the period. Bank of America Corp DE owned 0.57% of Highwoods Properties worth $18,625,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Everhart Financial Group Inc. lifted its holdings in Highwoods Properties by 6.0% in the 4th quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust's stock worth $358,000 after purchasing an additional 660 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 675 shares in the last quarter. Andrew Hill Investment Advisors Inc. lifted its holdings in Highwoods Properties by 0.5% in the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 143,814 shares of the real estate investment trust's stock worth $4,398,000 after purchasing an additional 677 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Highwoods Properties by 2.4% in the 4th quarter. Advisory Services Network LLC now owns 32,018 shares of the real estate investment trust's stock worth $979,000 after purchasing an additional 747 shares in the last quarter. Finally, FIL Ltd raised its holdings in shares of Highwoods Properties by 26.8% during the 4th quarter. FIL Ltd now owns 3,744 shares of the real estate investment trust's stock worth $114,000 after acquiring an additional 791 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HIW. Wells Fargo & Company decreased their price objective on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Truist Financial decreased their price objective on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Wall Street Zen raised Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group began coverage on Highwoods Properties in a report on Monday, March 17th. They set a "buy" rating and a $32.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $31.83.

Highwoods Properties Trading Down 0.9%

Shares of NYSE HIW traded down $0.27 during trading hours on Monday, hitting $28.73. 831,804 shares of the company traded hands, compared to its average volume of 918,476. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 30.24 and a beta of 1.20. 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's 50 day moving average price is $28.50 and its 200 day moving average price is $29.52. Highwoods Properties, Inc. has a 12 month low of $24.07 and a 12 month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $200.38 million for the quarter, compared to the consensus estimate of $201.31 million. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Monday, May 19th. Highwoods Properties's dividend payout ratio is currently 124.22%.

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.