Oppenheimer & Co. Inc. Acquires 17,548 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Oppenheimer & Co. Inc. grew its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 184.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 27,048 shares of the real estate investment trust’s stock after buying an additional 17,548 shares during the period. Oppenheimer & Co. Inc.’s holdings in Highwoods Properties were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. PGGM Investments raised its position in shares of 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 worth $95,347,000 after buying an additional 1,589,730 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Highwoods Properties by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,611 shares of the real estate investment trust’s stock worth $40,233,000 after purchasing an additional 36,285 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Highwoods Properties by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock worth $32,251,000 after purchasing an additional 56,399 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Highwoods Properties by 86.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock valued at $30,813,000 after purchasing an additional 545,066 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Highwoods Properties by 7.4% in the 2nd quarter. Victory Capital Management Inc. now owns 848,653 shares of the real estate investment trust’s stock worth $22,294,000 after buying an additional 58,634 shares during the last quarter. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Stock Up 0.2 %

Shares of Highwoods Properties stock opened at $31.46 on Wednesday. The company’s 50 day moving average price is $33.50 and its 200-day moving average price is $30.05. Highwoods Properties, Inc. has a 52-week low of $17.58 and a 52-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 stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 23.48 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data 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). The firm had revenue of $204.30 million during the quarter, compared to analysts’ expectations of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. Highwoods Properties’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Equities research analysts forecast that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.36%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is currently 149.25%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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. Wells Fargo & Company boosted their price objective on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Robert W. Baird increased their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their price target for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.