Principal Financial Group Inc. Sells 21,244 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Principal Financial Group Inc. reduced its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 499,103 shares of the real estate investment trust's stock after selling 21,244 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Highwoods Properties worth $16,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in Highwoods Properties in the 3rd quarter worth approximately $48,000. Blue Trust Inc. increased 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 acquiring an additional 2,350 shares during the last quarter. Venturi Wealth Management LLC lifted 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 valued at $109,000 after acquiring an additional 1,167 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 stake in shares of Highwoods Properties by 19.5% during the 3rd quarter. GAMMA Investing LLC now owns 5,026 shares of the real estate investment trust's stock valued at $168,000 after purchasing an additional 820 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Price Performance

HIW stock traded down $0.26 during trading on Friday, reaching $30.34. The company's stock had a trading volume of 602,320 shares, compared to its average volume of 999,564. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41. The company's fifty day moving average is $32.25 and its 200-day moving average is $31.00. The company has a market capitalization of $3.22 billion, a P/E ratio of 22.64 and a beta of 1.24. Highwoods Properties, Inc. has a 1 year low of $21.37 and a 1 year high of $36.78.

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

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.59%. Highwoods Properties's dividend payout ratio is 149.25%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and increased their price objective for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. Robert W. Baird raised their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Highwoods Properties presently has an average rating of "Hold" and an average price target of $31.20.

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.