Wellington Management Group LLP Boosts Stake in Highwoods Properties, Inc. (NYSE:HIW)

Wellington Management Group LLP increased its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 328.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,631 shares of the real estate investment trust's stock after acquiring an additional 97,100 shares during the period. Wellington Management Group LLP owned about 0.12% of Highwoods Properties worth $3,872,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of Highwoods Properties by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,025 shares of the real estate investment trust's stock worth $490,000 after acquiring an additional 1,970 shares in the last quarter. Blue Trust Inc. increased its stake in Highwoods Properties by 47.5% in the 4th quarter. Blue Trust Inc. now owns 4,752 shares of the real estate investment trust's stock valued at $159,000 after buying an additional 1,531 shares during the last quarter. Optas LLC lifted its position in shares of Highwoods Properties by 13.2% during the 4th quarter. Optas LLC now owns 8,036 shares of the real estate investment trust's stock worth $246,000 after buying an additional 936 shares in the last quarter. abrdn plc boosted its stake in shares of Highwoods Properties by 20.6% in the 4th quarter. abrdn plc now owns 45,453 shares of the real estate investment trust's stock worth $1,369,000 after buying an additional 7,776 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Highwoods Properties by 319.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,972 shares of the real estate investment trust's stock worth $14,678,000 after buying an additional 365,454 shares during the last quarter. Institutional investors own 96.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group started coverage on Highwoods Properties in a research report on Monday, March 17th. They set a "buy" rating and a $32.00 price target for the company. Wall Street Zen raised Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Truist Financial cut their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $31.83.

Highwoods Properties Stock Performance

Shares of HIW traded up $0.70 during mid-day trading on Friday, hitting $31.14. The stock had a trading volume of 868,833 shares, compared to its average volume of 925,962. Highwoods Properties, Inc. has a 52 week low of $24.19 and a 52 week high of $36.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average price of $28.63 and a 200-day moving average price of $29.44. The firm has a market cap of $3.36 billion, a P/E ratio of 32.78 and a beta of 1.21.

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

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties's dividend payout ratio (DPR) is currently 124.22%.

Highwoods Properties 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.