Algert Global LLC Grows Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Algert Global LLC increased its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 285.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,073 shares of the real estate investment trust’s stock after purchasing an additional 80,040 shares during the period. Algert Global LLC owned approximately 0.10% of Highwoods Properties worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Highwoods Properties by 356.3% during the 1st quarter. Janus Henderson Group PLC now owns 219,555 shares of the real estate investment trust’s stock valued at $5,749,000 after buying an additional 171,435 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Highwoods Properties by 184.7% in the third quarter. Oppenheimer & Co. Inc. now owns 27,048 shares of the real estate investment trust’s stock valued at $906,000 after acquiring an additional 17,548 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Highwoods Properties in the third quarter valued at approximately $2,085,000. M&G Plc boosted its position in Highwoods Properties by 28.8% in the 2nd quarter. M&G Plc now owns 497,584 shares of the real estate investment trust’s stock worth $12,937,000 after purchasing an additional 111,148 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Highwoods Properties by 7.4% during the 2nd quarter. Victory Capital Management Inc. now owns 848,653 shares of the real estate investment trust’s stock worth $22,294,000 after purchasing an additional 58,634 shares during the period. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HIW shares. 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. Robert W. Baird raised their target price on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Truist Financial upped their price target on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and raised their price objective for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. 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 company presently has a consensus rating of “Hold” and an average target price of $31.20.

Highwoods Properties Trading Up 1.2 %

HIW stock opened at $32.34 on Tuesday. Highwoods Properties, Inc. has a 12-month low of $17.58 and a 12-month high of $36.78. The business’s 50-day moving average is $33.45 and its 200 day moving average is $30.20. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 24.13 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The firm had revenue of $204.30 million during the quarter, compared to analyst estimates of $204.96 million. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.62 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Monday, November 18th. 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.