Oppenheimer Asset Management Inc. Sells 394 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Oppenheimer Asset Management Inc. trimmed its stake in Highwoods Properties, Inc. (NYSE:HIW) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,561 shares of the real estate investment trust’s stock after selling 394 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Highwoods Properties were worth $823,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its holdings in Highwoods Properties by 55.8% in the third quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 1,167 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in Highwoods Properties in the third quarter worth $211,000. State of New Jersey Common Pension Fund D bought a new stake in Highwoods Properties in the third quarter worth $2,085,000. Assetmark Inc. boosted its holdings in Highwoods Properties by 5.7% in the third quarter. Assetmark Inc. now owns 9,254 shares of the real estate investment trust’s stock worth $310,000 after acquiring an additional 495 shares in the last quarter. Finally, Easterly Investment Partners LLC boosted its holdings in Highwoods Properties by 29.8% in the third quarter. Easterly Investment Partners LLC now owns 110,264 shares of the real estate investment trust’s stock worth $3,695,000 after acquiring an additional 25,287 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Stock Up 0.7 %

Highwoods Properties stock opened at $31.40 on Tuesday. The stock has a market cap of $3.33 billion, a PE 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, Inc. has a one year low of $17.58 and a one year high of $36.78. The stock has a fifty day moving average of $33.51 and a 200 day moving average of $30.02.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data 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 firm 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 revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. As a group, sell-side analysts predict that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s payout ratio is 149.25%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and upped their price target for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company upped their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial upped their price target on 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 target on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and an average price target of $31.20.

Highwoods Properties Company 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.