Jupiter Asset Management Ltd. bought a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,206 shares of the real estate investment trust's stock, valued at approximately $451,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HIW. POM Investment Strategies LLC purchased a new position in Highwoods Properties in the first quarter valued at about $28,000. GF Fund Management CO. LTD. purchased a new position in Highwoods Properties in the fourth quarter valued at about $59,000. Spirit of America Management Corp NY purchased a new position in Highwoods Properties in the first quarter valued at about $59,000. Bayforest Capital Ltd purchased a new position in Highwoods Properties in the first quarter valued at about $82,000. Finally, State of Wyoming grew its stake in shares of Highwoods Properties by 88.4% during the fourth quarter. State of Wyoming now owns 3,137 shares of the real estate investment trust's stock worth $96,000 after acquiring an additional 1,472 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on HIW. Mizuho boosted their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Truist Financial lowered Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 2nd. Wells Fargo & Company dropped their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $32.00.
View Our Latest Report on HIW
Highwoods Properties Trading Down 0.6%
Highwoods Properties stock opened at $28.46 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.91 and a beta of 1.21. The stock has a 50-day moving average price of $30.74 and a 200 day moving average price of $29.46.
Highwoods Properties (NYSE:HIW - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%. The firm had revenue of $200.60 million during the quarter, compared to the consensus estimate of $203.22 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company's revenue was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current year.
Highwoods Properties Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 7.0%. Highwoods Properties's payout ratio is presently 168.07%.
About Highwoods Properties
(
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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