Kestra Investment Management LLC Acquires Shares of 21,135 Highwoods Properties, Inc. (NYSE:HIW)

Kestra Investment Management LLC bought a new position in Highwoods Properties, Inc. (NYSE:HIW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,135 shares of the real estate investment trust’s stock, valued at approximately $708,000.

Other institutional investors have also recently modified their holdings of the company. Evergreen Capital Management LLC boosted its holdings in shares of Highwoods Properties by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 371 shares during the last quarter. Fifth Third Bancorp lifted its position in Highwoods Properties by 3.6% during the second quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 376 shares during the period. GAMMA Investing LLC boosted its holdings in Highwoods Properties by 11.7% in the second quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 440 shares during the last quarter. Assetmark Inc. grew its position in Highwoods Properties by 5.7% in the 3rd quarter. Assetmark Inc. now owns 9,254 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 495 shares during the period. Finally, Presima Securities ULC grew its position in Highwoods Properties by 1.0% in the 3rd quarter. Presima Securities ULC now owns 52,536 shares of the real estate investment trust’s stock worth $1,760,000 after purchasing an additional 500 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIW. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and increased their price target for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Robert W. Baird boosted their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Highwoods Properties has a consensus rating of “Hold” and a consensus target price of $31.20.

Highwoods Properties Trading Up 0.0 %

Shares of HIW stock opened at $32.46 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 24.22 and a beta of 1.26. Highwoods Properties, Inc. has a 1 year low of $18.56 and a 1 year high of $36.78. The firm has a fifty day moving average price of $33.39 and a 200-day moving average price of $30.32.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results 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 net margin of 17.40% and a return on equity of 6.05%. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. During the same period in the prior year, the firm posted $0.93 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts predict that Highwoods Properties, Inc. will post 3.62 earnings per share for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is 149.25%.

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.