Davis Selected Advisers Trims Position in Highwoods Properties, Inc. (NYSE:HIW)

Davis Selected Advisers lowered its stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,050 shares of the real estate investment trust's stock after selling 27,050 shares during the period. Davis Selected Advisers owned 0.12% of Highwoods Properties worth $3,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 675 shares during the period. Quarry LP purchased a new position in shares of Highwoods Properties in the third quarter worth about $48,000. Smartleaf Asset Management LLC lifted its holdings in shares of Highwoods Properties by 124.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 1,351 shares during the period. Versant Capital Management Inc boosted its position in Highwoods Properties by 12.0% in the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust's stock valued at $93,000 after buying an additional 327 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Highwoods Properties by 55.8% in the third quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust's stock valued at $109,000 after buying an additional 1,167 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

HIW has been the topic of several recent research reports. Mizuho upped their price objective on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Truist Financial lowered 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. Jefferies Financial Group reduced their price objective on Highwoods Properties from $35.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $30.71.

Highwoods Properties Price Performance

Shares of NYSE:HIW traded down $0.30 during trading on Wednesday, reaching $28.47. 1,731,054 shares of the company's stock traded hands, compared to its average volume of 1,049,576. 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, Inc. has a fifty-two week low of $23.52 and a fifty-two week high of $36.78. The company has a 50-day simple moving average of $29.32 and a 200-day simple moving average of $31.39. The firm has a market cap of $3.06 billion, a PE ratio of 29.97 and a beta of 1.25.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS 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 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.02%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties's payout ratio is 210.53%.

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.