JPMorgan Chase & Co. Decreases Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

JPMorgan Chase & Co. lowered its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 25.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 656,269 shares of the real estate investment trust's stock after selling 220,919 shares during the quarter. JPMorgan Chase & Co. owned 0.62% of Highwoods Properties worth $21,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new position in Highwoods Properties during the 3rd quarter valued at about $48,000. Blue Trust Inc. lifted its position in Highwoods Properties by 269.8% during the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 2,350 shares during the period. Venturi Wealth Management LLC boosted its holdings 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 worth $109,000 after purchasing an additional 1,167 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Highwoods Properties by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust's stock worth $135,000 after purchasing an additional 1,069 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Highwoods Properties by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,026 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 820 shares during the period. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Stock Performance

Highwoods Properties stock remained flat at $29.23 during midday trading on Thursday. 674,086 shares of the company traded hands, compared to its average volume of 780,137. Highwoods Properties, Inc. has a one year low of $21.37 and a one year high of $36.78. The stock has a market capitalization of $3.10 billion, a P/E ratio of 21.81 and a beta of 1.24. The stock has a 50-day moving average of $31.37 and a two-hundred day moving average of $31.27. 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 quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.74). The firm had revenue of $204.30 million during the quarter, compared to analysts' expectations of $204.96 million. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The business's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.93 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Monday, November 18th. Highwoods Properties's dividend payout ratio (DPR) is 149.25%.

Wall Street Analyst Weigh In

HIW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a "buy" rating to a "hold" rating and increased their price target for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Mizuho raised their target price on Highwoods Properties from $24.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on shares of Highwoods Properties from $35.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Finally, Robert W. Baird boosted their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Highwoods Properties has an average rating of "Hold" and an average target price of $30.86.

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.