Blue Trust Inc. Purchases 2,350 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Blue Trust Inc. grew its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 269.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,221 shares of the real estate investment trust’s stock after buying an additional 2,350 shares during the quarter. Blue Trust Inc.’s holdings in Highwoods Properties were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HIW. Abich Financial Wealth Management LLC boosted its holdings 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 worth $49,000 after acquiring an additional 580 shares in the last quarter. Versant Capital Management Inc raised its position in Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,214 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Highwoods Properties in the first quarter worth $107,000. GAMMA Investing LLC grew its holdings in shares of Highwoods Properties by 11.7% during the second quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 440 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Highwoods Properties by 12.3% in the first quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 583 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered shares of 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. Truist Financial raised their price target on shares of 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 upped their price objective on Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One investment 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. According to MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and an average price target of $28.50.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $34.74 on Tuesday. The company has a market cap of $3.68 billion, a PE ratio of 28.48 and a beta of 1.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. Highwoods Properties, Inc. has a 1 year low of $17.17 and a 1 year high of $36.78. The company’s 50-day moving average is $33.13 and its two-hundred day moving average is $29.19.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a net margin of 17.40% and a return on equity of 6.01%. The business had revenue of $204.30 million during the quarter, compared to analyst estimates of $204.96 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Highwoods Properties, Inc. will post 3.6 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 5.76%. Highwoods Properties’s dividend payout ratio is currently 163.93%.

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.