Kestra Investment Management LLC acquired a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,135 shares of the real estate investment trust's stock, valued at approximately $708,000.
A number of other institutional investors have also recently bought and sold shares of HIW. PGGM Investments grew its stake in Highwoods Properties by 77.9% in the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust's stock valued at $95,347,000 after purchasing an additional 1,589,730 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Highwoods Properties by 131.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust's stock valued at $90,778,000 after purchasing an additional 1,536,067 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Highwoods Properties by 472.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 885,541 shares of the real estate investment trust's stock valued at $29,674,000 after purchasing an additional 730,859 shares during the period. LSV Asset Management grew its stake in shares of Highwoods Properties by 109.5% during the 2nd quarter. LSV Asset Management now owns 552,000 shares of the real estate investment trust's stock worth $14,501,000 after acquiring an additional 288,500 shares during the period. Finally, M&G PLC grew its stake in shares of Highwoods Properties by 26.8% during the 3rd quarter. M&G PLC now owns 631,159 shares of the real estate investment trust's stock worth $21,459,000 after acquiring an additional 133,575 shares during the period. Institutional investors own 96.31% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Highwoods Properties from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a "buy" rating to a "hold" rating and increased their price target for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company increased their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.20.
Get Our Latest Analysis on Highwoods Properties
Highwoods Properties Price Performance
NYSE HIW traded down $0.50 during trading hours on Monday, hitting $31.96. The company had a trading volume of 189,761 shares, compared to its average volume of 994,872. Highwoods Properties, Inc. has a 52 week low of $20.24 and a 52 week high of $36.78. The firm has a 50 day simple moving average of $33.39 and a 200 day simple moving average of $30.34. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.22 and a beta of 1.26.
Highwoods Properties (NYSE:HIW - Get Free Report) last issued 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). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The company had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same quarter in the prior year, the business earned $0.93 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts expect that Highwoods Properties, Inc. will post 3.62 earnings per share for the current year.
Highwoods Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.26%. Highwoods Properties's payout ratio is currently 149.25%.
About Highwoods Properties
(
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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