State of Alaska Department of Revenue Lowers Holdings in Highwoods Properties, Inc. (NYSE:HIW)

State of Alaska Department of Revenue reduced its position in Highwoods Properties, Inc. (NYSE:HIW) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 168,703 shares of the real estate investment trust’s stock after selling 2,364 shares during the quarter. State of Alaska Department of Revenue owned about 0.16% of Highwoods Properties worth $5,651,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. PGGM Investments raised its holdings in Highwoods Properties by 77.9% during the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock worth $95,347,000 after purchasing an additional 1,589,730 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Highwoods Properties by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,531,611 shares of the real estate investment trust’s stock worth $40,233,000 after buying an additional 36,285 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Highwoods Properties by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock valued at $32,251,000 after buying an additional 56,399 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Highwoods Properties by 86.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock valued at $30,813,000 after buying an additional 545,066 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Highwoods Properties by 11.0% in the first quarter. Sei Investments Co. now owns 957,610 shares of the real estate investment trust’s stock valued at $25,070,000 after buying an additional 94,804 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HIW shares. Wells Fargo & Company raised their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Truist Financial increased their target price 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. Robert W. Baird boosted their price target on Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.50.

Highwoods Properties Trading Down 0.3 %

Shares of HIW opened at $34.74 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. Highwoods Properties, Inc. has a 1-year low of $17.17 and a 1-year high of $36.78. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 28.48 and a beta of 1.26. The firm has a 50 day simple moving average of $33.13 and a 200-day simple moving average of $29.19.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results 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 return on equity of 6.01% and a net margin of 17.40%. The company had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $204.96 million. During the same period in the previous year, the business posted $0.93 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Highwoods Properties, Inc. will post 3.6 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 5.76%. Highwoods Properties’s dividend payout ratio (DPR) is 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.