Alliancebernstein L.P. decreased its stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 27.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,831 shares of the real estate investment trust's stock after selling 26,284 shares during the period. Alliancebernstein L.P. owned about 0.07% of Highwoods Properties worth $2,166,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Highwoods Properties by 12.0% in the 4th quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 327 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of Highwoods Properties by 6.0% during the fourth quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust's stock valued at $358,000 after buying an additional 660 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Highwoods Properties by 375.0% in the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock worth $26,000 after buying an additional 675 shares during the period. M&T Bank Corp lifted its stake in shares of Highwoods Properties by 3.7% in the 3rd quarter. M&T Bank Corp now owns 19,141 shares of the real estate investment trust's stock valued at $642,000 after acquiring an additional 682 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Highwoods Properties by 26.1% during the 4th quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust's stock valued at $126,000 after acquiring an additional 851 shares during the period. Hedge funds and other institutional investors own 96.31% of the company's stock.
Highwoods Properties Price Performance
NYSE HIW traded up $0.24 during trading on Friday, hitting $27.53. 623,527 shares of the stock traded hands, compared to its average volume of 915,591. The company has a market capitalization of $2.97 billion, a P/E ratio of 28.98 and a beta of 1.15. Highwoods Properties, Inc. has a 12-month low of $24.03 and a 12-month high of $36.78. The firm has a 50-day simple moving average of $28.37 and a 200-day simple moving average of $30.46. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41.
Highwoods Properties (NYSE:HIW - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. As a group, analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current year.
Highwoods Properties Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend was Tuesday, February 18th. Highwoods Properties's dividend payout ratio is 210.53%.
Wall Street Analyst Weigh In
HIW has been the subject of several recent research reports. Mizuho boosted their price objective on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Truist Financial dropped their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group began coverage on Highwoods Properties in a research note on Monday, March 17th. They set a "buy" rating and a $32.00 target price on the stock. Finally, StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $32.50.
Check Out Our Latest Stock Report on Highwoods Properties
Highwoods Properties Profile
(
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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