Everence Capital Management Inc. Has $351,000 Stake in Highwoods Properties, Inc. (NYSE:HIW)

Everence Capital Management Inc. reduced its stake in Highwoods Properties, Inc. (NYSE:HIW) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,470 shares of the real estate investment trust’s stock after selling 2,050 shares during the period. Everence Capital Management Inc.’s holdings in Highwoods Properties were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HIW. Massachusetts Financial Services Co. MA raised its position in Highwoods Properties by 131.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after purchasing an additional 1,536,067 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Highwoods Properties by 40.9% in the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock valued at $107,155,000 after buying an additional 908,401 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Highwoods Properties by 472.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 885,541 shares of the real estate investment trust’s stock valued at $29,674,000 after acquiring an additional 730,859 shares during the last quarter. Barclays PLC raised its position in Highwoods Properties by 537.7% during the 3rd quarter. Barclays PLC now owns 485,368 shares of the real estate investment trust’s stock worth $16,264,000 after purchasing an additional 409,258 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Highwoods Properties by 109.5% in the second quarter. LSV Asset Management now owns 552,000 shares of the real estate investment trust’s stock worth $14,501,000 after acquiring an additional 288,500 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIW has been the topic of a number of research analyst reports. Jefferies Financial Group cut their price target on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Robert W. Baird upped their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and boosted their target price for the stock 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’s stock. According to MarketBeat, Highwoods Properties has an average rating of “Hold” and an average target price of $31.17.

Highwoods Properties Trading Down 2.8 %

Shares of HIW opened at $29.91 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $3.17 billion, a P/E ratio of 22.32 and a beta of 1.24. Highwoods Properties, Inc. has a fifty-two week low of $21.37 and a fifty-two week high of $36.78. The business has a 50-day moving average of $31.66 and a 200 day moving average of $31.28.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 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 company had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same period in the previous year, the business earned $0.93 earnings per share. Highwoods Properties’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.69%. The ex-dividend date was Monday, November 18th. Highwoods Properties’s payout ratio is 149.25%.

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.