Principal Financial Group Inc. decreased its position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 4.1% during the 3rd quarter, according to its most recent filing 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its stake in shares of Highwoods Properties by 45.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 580 shares during the period. Versant Capital Management Inc grew its stake in shares of Highwoods Properties by 141.3% during the second quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in Highwoods Properties during the 1st quarter worth approximately $107,000. Blue Trust Inc. boosted its stake in shares of Highwoods Properties by 269.8% during the 3rd quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust's stock valued at $108,000 after buying an additional 2,350 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Highwoods Properties by 11.7% during the 2nd quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust's stock valued at $110,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.
Highwoods Properties Price Performance
Highwoods Properties stock traded down $0.19 during trading hours on Friday, hitting $31.63. 201,947 shares of the company traded hands, compared to its average volume of 999,252. Highwoods Properties, Inc. has a 1-year low of $17.58 and a 1-year high of $36.78. 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 firm's 50-day simple moving average is $33.51 and its two-hundred day simple moving average is $29.89. The firm has a market cap of $3.35 billion, a P/E ratio of 23.75 and a beta of 1.26.
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 company had revenue of $204.30 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm earned $0.93 earnings per share. As a group, analysts forecast that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.
Highwoods Properties Dividend Announcement
The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Monday, November 18th. Highwoods Properties's dividend payout ratio (DPR) is currently 149.25%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on HIW shares. Robert W. Baird boosted their price objective on Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and raised their price target for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. Finally, Truist Financial increased their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.20.
Check Out Our Latest Analysis on Highwoods Properties
Highwoods Properties Profile
(
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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