CORDA Investment Management LLC. Raises Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

CORDA Investment Management LLC. grew its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,019,186 shares of the real estate investment trust's stock after purchasing an additional 167,510 shares during the quarter. Highwoods Properties makes up about 2.4% of CORDA Investment Management LLC.'s portfolio, making the stock its 20th biggest holding. CORDA Investment Management LLC. owned approximately 0.95% of Highwoods Properties worth $30,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in Highwoods Properties by 20.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust's stock worth $99,869,000 after purchasing an additional 556,828 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Highwoods Properties by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust's stock worth $65,235,000 after purchasing an additional 71,670 shares during the last quarter. Northern Trust Corp boosted its stake in Highwoods Properties by 29.0% during the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock worth $56,721,000 after purchasing an additional 416,791 shares during the last quarter. Sei Investments Co. boosted its stake in Highwoods Properties by 32.2% during the 4th quarter. Sei Investments Co. now owns 1,328,543 shares of the real estate investment trust's stock worth $40,627,000 after purchasing an additional 323,946 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Highwoods Properties by 512.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock worth $38,961,000 after purchasing an additional 1,066,508 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Trading Up 0.4%

NYSE HIW traded up $0.13 during trading hours on Friday, reaching $31.43. The company had a trading volume of 693,443 shares, compared to its average volume of 931,573. The stock has a 50-day moving average of $30.59 and a 200 day moving average of $29.43. Highwoods Properties, Inc. has a 1-year low of $24.19 and a 1-year high of $36.78. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $3.39 billion, a P/E ratio of 19.52 and a beta of 1.21.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Highwoods Properties had a net margin of 21.53% and a return on equity of 7.43%. The company had revenue of $200.38 million for the quarter, compared to analysts' expectations of $201.31 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Highwoods Properties's revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.36%. Highwoods Properties's payout ratio is currently 124.22%.

Analyst Upgrades and Downgrades

HIW has been the topic of several recent research reports. Truist Financial cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Wednesday, July 2nd. Jefferies Financial Group began coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They set a "buy" rating and a $32.00 price target on the stock. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price target on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.83.

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.