Highwoods Properties, Inc. (NYSE:HIW) Shares Bought by Algert Global LLC

Algert Global LLC grew its stake in Highwoods Properties, Inc. (NYSE:HIW) by 285.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,073 shares of the real estate investment trust’s stock after acquiring an additional 80,040 shares during the quarter. Algert Global LLC’s holdings in Highwoods Properties were worth $3,622,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HIW. PGGM Investments grew its position in Highwoods Properties by 77.9% in the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock worth $95,347,000 after acquiring an additional 1,589,730 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Highwoods Properties by 131.0% in 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. Charles Schwab Investment Management Inc. increased its position in shares of Highwoods Properties by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,061,572 shares of the real estate investment trust’s stock worth $69,083,000 after acquiring an additional 34,885 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 36,285 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Highwoods Properties by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock worth $32,251,000 after purchasing an additional 56,399 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

HIW stock opened at $32.34 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $3.43 billion, a P/E ratio of 24.13 and a beta of 1.26. The business has a 50 day simple moving average of $33.45 and a 200-day simple moving average of $30.20. Highwoods Properties, Inc. has a twelve month low of $17.58 and a twelve month high of $36.78.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The business 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 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.18%. Highwoods Properties’s payout ratio is 149.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft downgraded shares of 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. Finally, Wells Fargo & Company raised their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.