abrdn plc Buys 18,616 Shares of Highwoods Properties, Inc. (NYSE:HIW)

abrdn plc boosted its stake in Highwoods Properties, Inc. (NYSE:HIW) by 97.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,677 shares of the real estate investment trust’s stock after purchasing an additional 18,616 shares during the period. abrdn plc’s holdings in Highwoods Properties were worth $1,263,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its holdings in shares of Highwoods Properties by 45.5% in the first 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 during the period. Versant Capital Management Inc boosted its position in Highwoods Properties by 141.3% in the second quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,214 shares during the last quarter. Blue Trust Inc. boosted its position in Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock worth $108,000 after purchasing an additional 2,350 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Highwoods Properties during the 1st quarter valued at about $107,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Highwoods Properties by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 1,069 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Stock Performance

Shares of NYSE HIW opened at $33.04 on Tuesday. The stock has a market cap of $3.50 billion, a PE ratio of 24.66 and a beta of 1.26. Highwoods Properties, Inc. has a 1 year low of $17.17 and a 1 year high of $36.78. The firm has a fifty day moving average price of $33.31 and a 200-day moving average price of $29.46. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31.

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). The business had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. Highwoods Properties’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. Equities analysts anticipate that Highwoods Properties, Inc. will post 3.62 earnings per share 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. Shareholders of record on Monday, November 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 6.05%. Highwoods Properties’s payout ratio is 149.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial lifted their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird upped their price objective on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.33.

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.