Victory Capital Management Inc. Grows Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Victory Capital Management Inc. lifted its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 981,140 shares of the real estate investment trust's stock after purchasing an additional 120,568 shares during the period. Victory Capital Management Inc. owned 0.91% of Highwoods Properties worth $29,081,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HIW. POM Investment Strategies LLC purchased a new stake in shares of Highwoods Properties during the 1st quarter valued at $28,000. GF Fund Management CO. LTD. bought a new stake in shares of Highwoods Properties during the fourth quarter valued at approximately $59,000. Spirit of America Management Corp NY purchased a new stake in Highwoods Properties in the first quarter worth approximately $59,000. State of Wyoming increased its position in shares of Highwoods Properties by 88.4% during the 4th quarter. State of Wyoming now owns 3,137 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 1,472 shares during the last quarter. Finally, FIL Ltd lifted its position in Highwoods Properties by 26.8% during the fourth quarter. FIL Ltd now owns 3,744 shares of the real estate investment trust's stock valued at $114,000 after purchasing an additional 791 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Trading Down 1.9%

NYSE HIW traded down $0.58 on Thursday, reaching $30.26. 392,312 shares of the company were exchanged, compared to its average volume of 746,663. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $36.78. The stock has a market capitalization of $3.26 billion, a P/E ratio of 18.79 and a beta of 1.21. The business's fifty day moving average price is $30.77 and its 200 day moving average price is $29.46. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.40.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.01. Highwoods Properties had a return on equity of 7.43% and a net margin of 21.53%. The firm had revenue of $200.38 million during the quarter, compared to the consensus estimate of $201.31 million. During the same period last year, the company earned $0.89 EPS. The company's quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Mizuho boosted their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Truist Financial cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $32.00.

About Highwoods Properties

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.