Penserra Capital Management LLC Increases Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Penserra Capital Management LLC boosted its stake in Highwoods Properties, Inc. (NYSE:HIW) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,314 shares of the real estate investment trust’s stock after purchasing an additional 7,130 shares during the period. Penserra Capital Management LLC’s holdings in Highwoods Properties were worth $1,283,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its stake in shares of Highwoods Properties by 45.5% in the first quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 580 shares in the last quarter. Versant Capital Management Inc grew its position in Highwoods Properties by 141.3% in 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 acquiring an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Highwoods Properties during the first quarter valued at approximately $107,000. Blue Trust Inc. lifted its position in shares of 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 worth $108,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of 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 valued at $109,000 after purchasing an additional 1,167 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HIW. Robert W. Baird boosted their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial increased 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. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Finally, 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 research note on Monday, November 4th. One 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, the company has an average rating of “Hold” and a consensus target price of $31.20.

Highwoods Properties Stock Up 0.3 %

Shares of Highwoods Properties stock opened at $32.44 on Wednesday. The business has a 50-day moving average price of $33.45 and a 200 day moving average price of $30.20. Highwoods Properties, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $36.78. The firm has a market cap of $3.44 billion, a P/E ratio of 24.21 and a beta of 1.26. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The firm had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same quarter last year, the firm posted $0.93 earnings per share. Highwoods Properties’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 149.25%.

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.