Sumitomo Mitsui Trust Group Inc. Has $3.84 Million Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,518 shares of the real estate investment trust’s stock after selling 3,767 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Highwoods Properties were worth $3,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Abich Financial Wealth Management LLC grew its position in 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 purchasing an additional 580 shares during the period. Versant Capital Management Inc grew 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 period. Blue Trust Inc. grew its position in Highwoods Properties by 269.8% in the 3rd quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,350 shares during the period. Venturi Wealth Management LLC grew its position in Highwoods Properties by 55.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 1,167 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in Highwoods Properties in the 1st quarter valued at $107,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Trading Up 0.7 %

Shares of HIW opened at $31.40 on Tuesday. The business has a 50-day moving average of $33.51 and a 200 day moving average of $30.02. Highwoods Properties, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $36.78. The firm has a market cap of $3.33 billion, a P/E ratio of 23.43 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. As a group, research analysts forecast that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is presently 149.25%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and lifted their price target for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. Robert W. Baird raised their price objective on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their target price on 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 data from MarketBeat, Highwoods Properties has a consensus rating of “Hold” and a consensus price target of $31.20.

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.