abrdn plc Buys 18,616 Shares of Highwoods Properties, Inc. (NYSE:HIW)

abrdn plc boosted its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 97.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,677 shares of the real estate investment trust's stock after purchasing an additional 18,616 shares during the quarter. abrdn plc's holdings in Highwoods Properties were worth $1,263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIW. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Highwoods Properties by 245.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust's stock valued at $11,283,000 after acquiring an additional 306,265 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Highwoods Properties by 9.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 22,844 shares of the real estate investment trust's stock worth $598,000 after buying an additional 1,915 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Highwoods Properties by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 339,447 shares of the real estate investment trust's stock worth $8,887,000 after buying an additional 33,719 shares in the last quarter. Quent Capital LLC raised its stake in shares of Highwoods Properties by 12.3% in the 1st quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust's stock worth $139,000 after buying an additional 583 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Highwoods Properties by 4.0% during the first quarter. GSA Capital Partners LLP now owns 39,505 shares of the real estate investment trust's stock worth $1,034,000 after purchasing an additional 1,506 shares during the period. Institutional investors and hedge funds own 96.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a "buy" rating to a "hold" rating and lifted their price target for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company lifted 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. Truist Financial lifted their price target on Highwoods Properties from $29.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Finally, Robert W. Baird lifted their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.33.

Highwoods Properties Stock Performance

Highwoods Properties stock traded up $0.25 during trading hours on Tuesday, hitting $33.29. The stock had a trading volume of 473,774 shares, compared to its average volume of 990,591. The company has a 50-day moving average of $33.34 and a two-hundred day moving average of $29.52. 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 has a market cap of $3.53 billion, a PE ratio of 24.96 and a beta of 1.26. Highwoods Properties, Inc. has a fifty-two week low of $17.17 and a fifty-two week high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly 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 analyst estimates of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The company's revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. On average, equities research analysts anticipate that Highwoods Properties, Inc. will post 3.62 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.01%. Highwoods Properties's dividend payout ratio is currently 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.