Proficio Capital Partners LLC Takes $674,000 Position in Highwoods Properties, Inc. (NYSE:HIW)

Proficio Capital Partners LLC bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,048 shares of the real estate investment trust's stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HIW. Versant Capital Management Inc raised its stake in shares of Highwoods Properties by 12.0% in the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 327 shares in the last quarter. Assetmark Inc. raised its position in Highwoods Properties by 5.7% in the 3rd quarter. Assetmark Inc. now owns 9,254 shares of the real estate investment trust's stock valued at $310,000 after purchasing an additional 495 shares in the last quarter. Everhart Financial Group Inc. raised its position in Highwoods Properties by 6.0% in the 4th quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust's stock valued at $358,000 after purchasing an additional 660 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Highwoods Properties by 3.7% in the 3rd quarter. M&T Bank Corp now owns 19,141 shares of the real estate investment trust's stock valued at $642,000 after buying an additional 682 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Highwoods Properties by 26.1% during the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust's stock worth $126,000 after buying an additional 851 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company's stock.

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Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded down $0.80 during trading on Thursday, reaching $27.71. The company's stock had a trading volume of 786,102 shares, compared to its average volume of 1,040,779. The firm has a market cap of $2.98 billion, a PE ratio of 29.16 and a beta of 1.25. The company has a 50-day moving average price of $29.28 and a two-hundred day moving average price of $31.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. Highwoods Properties, Inc. has a fifty-two week low of $23.52 and a fifty-two week high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. On average, analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.00 annualized dividend and a dividend yield of 7.22%. Highwoods Properties's dividend payout ratio (DPR) is currently 210.53%.

Analyst Upgrades and Downgrades

HIW has been the topic of several analyst reports. Jefferies Financial Group reduced their target price on shares of Highwoods Properties from $35.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Truist Financial decreased their price objective on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Mizuho increased their target price on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, StockNews.com upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.71.

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.