Thrivent Financial for Lutherans Sells 4,744 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Thrivent Financial for Lutherans lessened its stake in Highwoods Properties, Inc. (NYSE:HIW) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,248 shares of the real estate investment trust’s stock after selling 4,744 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Highwoods Properties worth $2,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HIW. PGGM Investments boosted its holdings 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 valued at $95,347,000 after acquiring an additional 1,589,730 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Highwoods Properties by 86.8% during the second 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 buying an additional 545,066 shares during the period. Lasalle Investment Management Securities LLC bought a new position in Highwoods Properties during the first quarter worth $8,444,000. LSV Asset Management lifted 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 bought a new stake in Highwoods Properties during the first quarter valued at $7,215,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Trading Up 0.3 %

Shares of Highwoods Properties stock opened at $32.44 on Wednesday. The stock has a market capitalization of $3.44 billion, a PE ratio of 24.21 and a beta of 1.26. Highwoods Properties, Inc. has a 52 week low of $17.58 and a 52 week high of $36.78. The stock has a 50 day moving average price of $33.45 and a two-hundred day moving average price of $30.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31.

Highwoods Properties (NYSE:HIW) last posted 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 business had revenue of $204.30 million during the quarter, compared to analyst estimates of $204.96 million. During the same period in the previous year, the business posted $0.93 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 6.17%. Highwoods Properties’s payout ratio is 149.25%.

Analyst Ratings Changes

HIW has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and raised their price objective for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. Finally, Robert W. Baird boosted their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research report 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.