CORDA Investment Management LLC. Sells 21,602 Shares of Highwoods Properties, Inc. (NYSE:HIW)

CORDA Investment Management LLC. lowered its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 855,329 shares of the real estate investment trust's stock after selling 21,602 shares during the period. Highwoods Properties accounts for 2.2% of CORDA Investment Management LLC.'s portfolio, making the stock its 23rd largest holding. CORDA Investment Management LLC. owned 0.81% of Highwoods Properties worth $28,662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its holdings in Highwoods Properties by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust's stock worth $359,000 after buying an additional 371 shares during the last quarter. Fifth Third Bancorp increased its holdings in Highwoods Properties by 3.6% in the second quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust's stock worth $283,000 after buying an additional 376 shares during the last quarter. GAMMA Investing LLC increased its holdings in Highwoods Properties by 11.7% in the second quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust's stock worth $110,000 after buying an additional 440 shares during the last quarter. Presima Securities ULC increased its holdings in Highwoods Properties by 1.0% in the third quarter. Presima Securities ULC now owns 52,536 shares of the real estate investment trust's stock worth $1,760,000 after buying an additional 500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Highwoods Properties by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,537 shares of the real estate investment trust's stock worth $566,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 96.31% of the company's stock.

Analysts Set New Price Targets

HIW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a "buy" rating to a "hold" rating and upped their target price for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. Wells Fargo & Company upped their target price on Highwoods Properties from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Monday. Robert W. Baird upped their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Truist Financial upped their target price on Highwoods Properties from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $29.33.

Highwoods Properties Stock Performance

Shares of HIW traded up $0.40 during mid-day trading on Monday, hitting $33.04. The company's stock had a trading volume of 2,007,520 shares, compared to its average volume of 993,017. The firm has a market capitalization of $3.50 billion, a PE ratio of 24.57 and a beta of 1.26. Highwoods Properties, Inc. has a one year low of $17.17 and a one year high of $36.78. The stock's 50-day moving average is $33.31 and its two-hundred day moving average is $29.46. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31.

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). The firm had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. As a group, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The company 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 $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 6.05%. Highwoods Properties's dividend payout ratio (DPR) is currently 149.25%.

Highwoods Properties 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.