Assetmark Inc. Increases Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

Assetmark Inc. increased its position in Highwoods Properties, Inc. (NYSE:HIW) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,254 shares of the real estate investment trust’s stock after buying an additional 495 shares during the quarter. Assetmark Inc.’s holdings in Highwoods Properties were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. PGGM Investments increased its stake in Highwoods Properties by 77.9% during 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Highwoods Properties by 86.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock worth $30,813,000 after purchasing an additional 545,066 shares during the period. Lasalle Investment Management Securities LLC acquired a new stake in Highwoods Properties during the 1st quarter worth approximately $8,444,000. LSV Asset Management raised its holdings in 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 valued at $14,501,000 after buying an additional 288,500 shares during the period. Finally, Swedbank AB acquired a new position in Highwoods Properties during the first quarter valued at approximately $7,215,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $31.66 on Friday. Highwoods Properties, Inc. has a 12-month low of $17.58 and a 12-month high of $36.78. 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 capitalization of $3.36 billion, a price-to-earnings ratio of 23.63 and a beta of 1.26. The firm’s fifty day moving average price is $33.51 and its 200 day moving average price is $29.96.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (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 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 firm posted $0.93 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Highwoods Properties, Inc. will post 3.62 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently announced 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 dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is 149.25%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and increased their price objective for the stock from $31.00 to $35.00 in a research report on Tuesday, October 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 report on Monday, November 4th. 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 note on Friday, November 1st. Finally, Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.