Harvest Portfolios Group Inc. Raises Position in Highwoods Properties, Inc. (NYSE:HIW)

Harvest Portfolios Group Inc. increased its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 141.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,647 shares of the real estate investment trust's stock after purchasing an additional 21,455 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Highwoods Properties were worth $1,228,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. PGGM Investments boosted its position in Highwoods Properties by 77.9% during the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust's stock worth $95,347,000 after acquiring an additional 1,589,730 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Highwoods Properties by 86.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust's stock valued at $30,813,000 after acquiring an additional 545,066 shares in the last quarter. M&G Plc acquired a new stake in shares of Highwoods Properties in the first quarter valued at about $10,047,000. Lasalle Investment Management Securities LLC bought a new stake in Highwoods Properties during the first quarter worth about $8,444,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Highwoods Properties by 245.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust's stock worth $11,283,000 after acquiring an additional 306,265 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and upped their target price for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.33.

Highwoods Properties Trading Down 0.4 %

NYSE HIW traded down $0.12 on Thursday, hitting $33.55. The company's stock had a trading volume of 699,432 shares, compared to its average volume of 991,754. The company's 50-day moving average is $33.40 and its 200 day moving average is $29.62. The firm has a market cap of $3.56 billion, a PE ratio of 25.13 and a beta of 1.26. Highwoods Properties, Inc. has a 1-year low of $17.17 and a 1-year high of $36.78. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74). The company had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The business's revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, analysts predict that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.96%. Highwoods Properties's payout ratio is 149.25%.

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.