Advisors Asset Management Inc. Sells 12,386 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Advisors Asset Management Inc. decreased its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 22.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,903 shares of the real estate investment trust’s stock after selling 12,386 shares during the quarter. Advisors Asset Management Inc.’s holdings in Highwoods Properties were worth $1,471,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Abich Financial Wealth Management LLC increased its stake in Highwoods Properties by 45.5% in the 1st 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 last quarter. Versant Capital Management Inc raised its stake in Highwoods Properties by 141.3% during the second quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in Highwoods Properties during the first quarter valued at $107,000. Blue Trust Inc. lifted its position in Highwoods Properties by 269.8% during the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,350 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Highwoods Properties by 55.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,167 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Trading Up 1.2 %

Shares of NYSE HIW opened at $32.34 on Tuesday. Highwoods Properties, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $36.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 24.13 and a beta of 1.26. The business’s 50 day moving average price is $33.45 and its 200-day moving average price is $30.20.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 6.05% and a net margin of 17.40%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. On average, sell-side analysts expect that Highwoods Properties, Inc. will post 3.62 earnings per share 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 $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 6.18%. Highwoods Properties’s dividend payout ratio (DPR) is 149.25%.

Analyst Ratings Changes

A number of brokerages recently commented on HIW. Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird lifted their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and boosted their target price for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.